With S&P 500 up 37 percent in a wink, analysts turn bearish

Are you a bull or a bear? If you're someone who values analysts' sentiment, you're probably turning bearish, or at least looking at the market with increasing skepticism.

That's because the rally that has driven the S&P 500 up 37 percent since hitting a 12-year low near 660 in March has raised analysts' concerns about the pace of the stock rebound, Bloomberg News reported Monday.

The S&P 500's biggest rally since 2002 has resulted in 34 percent of the index's companies exceeding analysts' price targets for next year, Bloomberg News reported -- historically a sign that the market may be getting a bit ahead of itself.