Greed achieves new all-time high

It’s official. The NYSE just released margin debt figures for April. A new all-time high was reached: $384.37B. This eclipses the previous all-time peak of $381B in July 2007. Take a good look at the chart because when margin debt peaks, the S&P500 is usually not far behind.

 

I had used $383B for an April estimate in the Greedometer algorithm, so this won’t change April’s readings. I’m using $392B as an estimate for May.