Via Bespoke, see the chart and read the analysis here.
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the individual investor is dead. hard to see any connection between the SPY and sentiment in that chart.
Since it’s public information, go contrarian. This means BUY.
Exactly!
wood, obviously that is what it should mean. not seeing anything in that chart.
Fake, I just meant to fade the public. Tend to agree with Ott that it is not at enough of an extreme to be a strong signal.
That’s some volatility right there. Like charting an emotional teenager’s mood swings. Wasn’t it just a few weeks ago that bullish sentiment was at 2007 levels?
It’s a very noisy series, and very sensitive to recent market performance. It takes real extremes in the sentiment numbers to provide any confidence in taking a contrary stand.
Current data isn’t near an extreme.
Bearishness is above average, but only at about the 75th percentile for the nearly 25 years of survey data. Bullishness is low, at about the 16th percentile.
In contrast, the March 5, 2009 survey had the highest bearish sentiment reading ever for the series – a perfectly timed contrarian signal.