Thursday, September 04, 2014

Individual Investors Not Overly Bullish

This week's sentiment survey from the American Association of Individual Investors notes bullish sentiment declined 7.25 percentage points to 44.67%. Two thirds of the decline went into the bearish category while the other one third went into the neutral category.  A less volatile measure is the 8-period moving average of the bullish sentiment reading and it rose to 38.3% from last week's 37.4%. The 8-period moving average is not indicating either an overly bullish sentiment or an overly bearish sentiment environment.

From The Blog of HORAN Capital Advisors
Data source: AAII

As a point of reference, 2013 saw strong market returns from the S&P 500 Index and sentiment readings at the end of 2012 compared to this latest report are noted below.

From The Blog of HORAN Capital Advisors

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