Investors Intelligence: Bullish Sentiment RecedingOctober 10, 2012 @ 9:15 AM EST
Sentiment Update: Investor’s Intelligence Poll
Investor’s Intelligence reports that Bullish Sentiment fell on the week to 45.7% from 46.8% last week (51.0% two weeks ago).
Bearish Sentiment was unchanged at 25.5% (24.5% two weeks ago) and those expecting a correction rose to 28.8% from 27.7%.
The current 10-week moving average of the percentage of bulls/(bulls+bears) stands at 65.7% (a low 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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