So, let's see.....Every large bank has advised shorting over the last 6 months. Also, many pundits are short. I know of no bullishness on the level you mention. Most bulls are only looking for 10% upside, if that....... while the many bears are looking for a large panic decline. Very little bullishness out there.
I call BS on this indicator.
CNN must be using the same math that .gov uses to produce desired results about the health of the economy.
You can't trust the media anymore.