The market is much more skeptical about stocks than the recent rally indicates
1. S&P 500 rose over 6% in May amid investor skepticism. 2. Daily ETF inflows have dropped from $3 billion to $1.4 billion. 3. Investors favor ultra-short duration bonds over equities. 4. Retail investors continue to buy S&P 500 ETFs despite market caution. 5. Past bullish trends suggest a 'reset year' for equity markets.