Not Enough Bearish Sentiment to Suggest an Intermediate Stock Market Bottom
Not Enough Bearish Sentiment to Suggest an Intermediate Market Bottom. We use investor sentiment as contrarian indictors to ascertain stock market direction. Bullish sentiment in the Investor Intelligence Bulls/Bears poll of market newsletter writers dropped to 42.7% from 49% the previous week sparked by the recent correction. However, bearish sentiment barely moved, going from 17.3% to 18.5%. Bearish and bullish sentiment historically need to be around parity before we can confidently call an intermediate market bottom.
Chart provided by www.investors-intelligence.com