Thursday, August 13, 2009

Fewer Bears

In this week's individual investor sentiment survey, bearish sentiment declined 2% points to 33% versus 35% last week. At the same time, bullish sentiment increased 1% to 51%. The bull/bear spread widened to 18% from 15% last week. At prior market highs, the spread has generally been over 30%.

Updated: 8/15/09

Below is an updated graph of the 8-period moving average of the bullish sentiment data compared against the S&P 500 Index.


Anonymous said...

the bull bear spread is too noisy. Can you chart SMA of the bull bear spread?

Anonymous said...

there really doesn't seem to any correlation here

David Templeton, CFA said...

Historically I have played with various ways to show this data. I have updated the above post showing the 8 period moving average of bullish sentiment graphed against the S&P 500 Index.