According to The Kobeissi Letter, Bank of America’s Bull & Bear Indicator rose by 0.6 points over the last few trading days to 8.5, re-entering extreme bull territory (source: The Kobeissi Letter on X, Dec 22, 2025). According to The Kobeissi Letter, the indicator tracks hedge fund and fund manager positioning, equity and bond flows, and market breadth, indicating investors are extremely bullish at present levels (source: The Kobeissi Letter on X, Dec 22, 2025).