courtesy of Jason Goepfert @sentimentrader
"Widespread optimism. Almost always precedes 1-3 weeks of flat-down prices, except transitions to new bull mkts."
I subscribe to his service and the analysis provides a nice backdrop to my own research. I have found when my technical indicators line up with his sentiment indicators well, my success rate has been improved. I don't trade solely off of his data but consider them more as headwinds/ tailwinds into a potential trade.