Trends

Bulls Step Back

Trending 1 year ago
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Feb. 17, 2023 12:00 AM ETACTV, AFMC, AFSM, ARKK, AVUV, BAPR, IVOO, IVOV, IVV, IVW, IWC, IWM, IWN, IWO, IWP, IWR, IWS, IYY, QQQ, SPLV, SPLX, SPMD, SPMO, SPMV, SPSM, SPUS, SPUU, SPVM, SPVU, SPXE, SPXL, SPXN, SPXS, SPXT, SPXU, SPXV, SPY, SPYD, SPYG, SPYV, SPYX, SQEW, SQLV, SSLY, SSO, SSPY, STLV, SVAL, SYLD, TMDV, TPHD, TPLC, TPSC, UAUG, UJAN, UMAR, UMAY, UOCT, UPRO, USEQ, USLB, USMC, USMF, USVM

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Summary

  • The S&P 500 hasn’t moved decisively successful immoderate guidance complete nan past week.
  • The pickup successful bearish sentiment was not capable to make bears outnumber bulls.
  • Our sentiment composite remains affirmative but is disconnected from its short-term highest past week.

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TERADAT SANTIVIVUT/iStock via Getty Images

The S&P 500 hasn't moved decisively successful immoderate guidance complete nan past week, and arsenic a result, sentiment saw small change. 34.1% of respondents to nan play AAII sentiment study reported arsenic bullish this week, down from a precocious of 37.5% past week.

S&P 500

Author

Bearish sentiment took from those bullish losses arsenic nan reference roseate up to 28.8% from 25%. Even though that is simply a higher reading, it is still nan only different reference beneath 30% since past March.

S&P 500

Author

Additionally, nan pickup successful bearish sentiment was not capable to make bears outnumber bulls. As such, nan bull-bear dispersed saw its first back-to-back affirmative readings since November 2021.

S&P 500

Author

Although complete a 3rd of respondents reported arsenic bullish, this week's predominant sentiment level was neutral. 37.1% reported arsenic specified this week. That reference has now been supra its historical mean of 31.4% for 7 consecutive weeks; nan longest streak since January 2021.

S&P 500

Author

Other sentiment surveys person likewise taken much optimistic tones lately contempt a humble pullback successful bullish sentiment this week. Factoring successful nan Investors Intelligence and NAAIM sentiment readings, our sentiment composite remains affirmative but is disconnected from its short-term highest past week.

Sentiment Composite

Author

Original Post

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.

This article was written by

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Bespoke Investment Group provides immoderate of nan astir original contented and intuitive reasoning connected nan Street. Founded by Paul Hickey and Justin Walters, formerly of Birinyi Associates and creators of nan acclaimed TickerSense blog, Bespoke offers aggregate products that let anyone, from institutions to nan astir humble investor, to summation nan information and knowledge basal to make intelligent and profitable finance decisions. Along pinch moving their Think B.I.G. finance blog, Bespoke provides timely finance ideas done its Bespoke Premium (http://bespokepremium.com/) subscription work and besides manages money (http://bespokepremium.com/mm) for precocious nett worthy individuals. Visit: Bespoke Investment Group (http://bespokeinvest.com/)

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