Investors are unusually bullish, but consumers are getting cautious

<p>Retail industry analyst Dana Telsey, chief executive at <a href= "https://www.telseygroup.com">Telsey Advisory Group</a>, says that inflation has forced consumers to become more discerning with their spending, using more on essentials and trying to keep powder dry, and while it's not enough of a pullback to tank the economy, the longer inflation persists at high levels, the harder it will be for the consumer to keep propping up the economy. Meanwhile, <a href= "https://www.aaii.com/sentimentsurvey">bullish investor sentiment</a> -- the expectation that the stock market will gain ground in the next six months -- reached "unusually high" levels  in the latest American Association of Individual Investors survey, with Charles Rotblut -- who runs the survey for <a href="https://www.aaii.com">AAII</a> -- noting that extreme sentiment levels often are a precursor to the market changing directions. Plus, Kyle Guske of <a href= "https://www.newconstructs.com">New Constructs</a> says puts Tesla and Netflix back into the Danger Zone, noting valuations after recent earnings reports have them poised for a setback and, in the Market Call, Tobias Carlisle of the <a href= "https://www.acquirersfunds.com">Acquirers Funds</a> puts his take on value investing in current conditions.</p>