Not Bullish–Individuals Have a Change of Heart

Sentiment Survey Past Results

http://www.aaii.com/sentimentsurvey

Change from last week:

Bullish: -9.7 Neutral: +0.8 Bearish: +8.9

Long-Term Average:Bullish: 39% Neutral: 31% Bearish: 30%
Reported Date Bullish Neutral Bearish
November 15: 28.82% 22.35% 48.82%
November 8: 38.50% 21.60% 39.91%
November 1: 35.74% 23.28% 40.98%
October 25: 29.25% 27.67% 43.08%
October 18: 28.66% 26.79% 44.55%
October 11: 30.58% 30.58% 38.85%
October 4: 33.86% 32.91% 33.23%
September 27: 36.10% 27.44% 36.46%
September 20: 37.50% 28.72% 33.78%
September 13: 36.46% 30.56% 32.99%
September 6: 33.06% 33.88% 33.06%
August 30: 34.72% 32.64% 32.64%
August 23: 41.96% 32.17% 25.87%
August 16: 36.84% 35.09% 28.07%
August 9: 36.47% 36.18% 27.35%
August 3: 30.45% 34.63% 34.93%
July 26: 28.12% 28.75% 43.13%
July 19: 22.19% 36.02% 41.79%
July 12: 30.23% 35.05% 34.73%
July 5: 32.64% 34.03% 33.33%
June 28: 28.67% 26.96% 44.37%
June 21: 32.89% 31.23% 35.88%

The sentiment survey measures the percentage of individual investors who are bullish, bearish, and neutral.

Perspective: The difference from bullish and bearish sentiment percentages is 20%. That figure has occurred only 7.8% of the time since 1987. The biggest bullish spread (62%) occurred on Jan. 6th, 2000 and on November 9th 2000 it was + 54%. The most bearish spread was -54% on October 19th, 1990 and -51% on March 5th, 2009.  So individual investors have soured on the market, but they are not at an extreme.

 

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