The Rydex/SGI Advisor Confidence Index rose nearly 5% in September to 109.14, up from 105.05 in August. It was the second rise in the index, although it is still in neutral territory.
“We expect investors to shift from an era of pessimism to excess optimism over the next six months,” said James Dailey of TEAM Financial Management. “In fact, we expect a growth scare to emerge early next year as GDP numbers could arrive in the 6%+ range—something almost no one is forecasting at present.”
Kenny Landgraf of Kenjol Capital Management added, “Now we enter the most profitable period of the year from October to April from a historical standpoint. Investors’ fear of a market meltdown is being replaced with the fear that they are missing the market move and the train is leaving the station.
Within the index, the outlook for the current economic outlook improved 7.22% and for the six-month economic outlook, 11.68%