Stock market Sentiment – Charts through 30th August 2019 PDF
Consensus Polls:
08/30: AAII: Bulls% at 26.1%. Bears% at 42.2%. The net (Bulls minus Bears) at -16.1, is up from -26.5 three weeks ago, the most negative since middle of December last year. As I wrote then “an extreme like this doesn’t always mark the exact low (December’s was early) but since the Bull market began it is usually close”.
08/30: Investors Intelligence. Bulls% at 43.9% is down from 58% six weeks ago. Bears% at 18.7% has moved very little for months. Unlike some other Sentiment indicators, newsletter writers have not registered much fear recently.
08/30: The NAAIM Exposure Index was lower at 59.99. The index reached 95.75 five weeks ago.
Mutual Fund Flow:
08/30: My version of the Rydex Assets Ratio ended the week at 16.03. Down from 24.14 on 07/29, a 10month high.
08/30: lipperusfundflows reported Equity Fund (inc ETF) outflows of -$7.3 Billion in the week to 28th August. This brings the 4wk flow to a negative -$41.6 Billion, only May ’19 and Dec ’18 saw larger 4wk outflows.