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The S&P 500 has gotten off to a rocky begin to the brand new 12 months, but it surely hasn’t knocked down bullish sentiment but. This week’s bullish sentiment studying from the American Affiliation of Particular person Buyers (AAII) rose from 46.3% in the ultimate week of 2023 as much as 48.6% this week.
That edges bullish sentiment again in the direction of the multi-year excessive of 52.9% put in place two weeks in the past, and nonetheless leaves bullish sentiment over a full commonplace deviation above its historic common.
As for bearish sentiment, issues should not as prolonged, although at 23.5%, the share of bears remains to be a number of proportion factors decrease than the historic common (31%).
Which means the bull-bear unfold can be nonetheless traditionally in favor of bulls, with a 25 proportion level hole between the 2.
Together with different weekly sentiment surveys, the image is a bit extra muddled, albeit nonetheless displaying a bias in the direction of bullishness.
For starters, after its vacation hiatus, the Buyers Intelligence survey posted its highest studying on bullish sentiment since November 2021.
Conversely, this week’s studying within the NAAIM Publicity index monitoring lively managers’ fairness publicity plummeted from a studying above 100 (which means managers reported they had been totally invested lengthy) all the best way all the way down to 71.
That’s the lowest studying within the index since early November.
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Editor’s Be aware: The abstract bullets for this text had been chosen by Looking for Alpha editors.
