Investors Intelligence: Bullish Sentiment Advances With IndicesAugust 22, 2012 @ 8:38 AM EST
Sentiment Update: Investor’s Intelligence Poll
Investor’s Intelligence reports that Bullish Sentiment rose last week to 47.3% from 43.6% last week (43.6% two weeks ago).
Bearish Sentiment declined to24.7% from 26.6% (25.5% two weeks ago) and those expecting a correction fell to 28.0% from 29.8% (30.9% two weeks ago).
The current 10-week moving average of the percentage of bulls/(bulls+bears) stands at 612.2% (a neutral 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.
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