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The market is actually up this month, but bearish bets are building fast.
The big picture: A measure of sentiment from the options markets shows that bets on falling stock prices have sharply outpaced those expecting prices to rise.
How it works: The measure is a ratio of bets on falling prices, or "puts," versus bets on rising prices, known as "calls."
Yes, but: That might sound like a reason to run away from stocks. But oddly, market analysts usually see extreme levels of bearishness in investor sentiment as good news for stocks.
What we're watching: As fun as it is to read the tea leaves of market sentiment, the only thing that seems to matter for stocks right now is what the Fed does with interest rates.
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