The American Association of Individual Investors released their Sentiment Survey results for the week ending 1/21/2015. Bullish sentiment declined nine percentage points to 37.1% with all of the change going to the bearish camp. Bearish sentiment increased 9+ percentage points. As the below chart shows, this places the bullish sentiment near the average for this reading. Investors should keep in mind this contrarian sentiment indicator is most predictive of future market direction when readings are at extremes which is not the case this week.
|From The Blog of HORAN Capital Advisors|