Smart, sophisticated investors don't usually put much money in mutual funds. Some buy on margin and borrow from their brokers. Investment advisors usually appeal to less sophisticated investors. Breadth of market shows which stocks are advancing and which are declining. Stocks above their 200-day moving average are popular with investors, but may be overpriced.
#18 Analysts following what the smart, sophisticated investor is doing would examine
Mutual fund cash positions.
Debit balances in brokerage houses.
Investment advisory opinions
Breadth of market.
Stocks above their 200 day moving average