Headline Alert
Sentiment Update: Investor’s Intelligence Poll
Investor’s Intelligence reports that Bullish Sentiment fell to 45.6% from the 51.1% level seen in the prior week (the level was 54.9% two weeks ago).
Bearish Sentiment rose on the week to 19.6% from 18.5% (16.5% two weeks ago) and those expecting a correction rose to 34.8% from 30.4%.
The current 10-week moving average of the percentage of bulls/(bulls+bears) stands at 73.3% (a very HIGH reading). Note that readings below 53 are considered a positive for the market while readings above 69 are negative.
Recall that in our article entitled Time To Be Wary of the Crowd? we highlighted that when the 10-week moving average of the percentage of bulls/(bulls+bears) reaches 69 or above, a bullish extreme is considered to have been reached.
S&P 500 - Last 12 Months
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