A market sentiment indicator based on a weekly poll of investment advisors as to whether they are bullish, bearish, or neutral on the stock market. The bull/bear ratio is published by Investor's Intelligence of New Rochelle, New York. Extreme optimism on the part of the public and even professionals almost always coincides with market tops. Extreme pessimism almost always coincides with market bottoms. Historically, readings above 60 percent have indicated extreme optimism (which is bearish signal for the market) and readings below 40 percent have indicated extreme pessimism (which is bullish signal for the markets).