Market Sentiment Still Negative
The latest sentiment polls are out and still showing a health skepticism (via Bespoke Investment Group):
If twelve straight days of gains in the Nasdaq won’t bring out the bulls, what will? While bullish newsletter writers outnumber bearish writers by a slim margin (36.7% vs 35.6%), individual investors remain bearish according to the most recent survey from the American Association of Individual Investors (AAII). According to this week’s AAII survey, bears (42.4%) still outnumber the bulls (37.6%) even after the broader averages have gained over 10% since July 10th.
As I’ve said before, this rally has not lacked for skeptics. I wonder when these bears will throw in the towel and get long? That’s when I’m heading for the exits….
- July 23rd
[...] it will be quite a bit higher than most expect. Earnings estimates are probably still too low and market sentiment is still too negative. Critics have complained that cost cutting is the source of higher earnings [...]