Investors intelligence numbers come out every week, very simply they ask a few people if they are bullish, bearish, or neutral on the market for the next 6 months. A big deal is made out of this every week by a few people. I’m not so sure how important or even useful this data may be due to; the amount of people surveyed and the fact that it’s an opinion. The opinion might be one that is weakly held, or one that is not actionable. On the second chart you see what investors are actually doing with their money, which I believe is more important than ones opinion.
What you see is that only 20% of those surveyed are bullish on the market over the next 6 months, while on the second chart you see that equities as a percent of total assets is showing a high reading/participation by retail investors. I think the Cavaliers have a shot of winning but my money is on the Warriors.