Good news?

March 5 (Bloomberg) -- The biggest money managers and strategists on Wall Street are standing their ground.
They say the four-year bull market in U.S. stocks will persist even after the Standard & Poor's 500 Index plunged the
most since January 2003 last week on concern a slowing economy will hurt corporate profits.
When I look the at the chart below comparing the SP 500 since 2003 with the strategists recommended US stocks allocation in % (yellow line), I have some doubt about this bullish call.