FYI: As weak economic data over the past week has sparked selling in equity markets, the S&P 500 has experienced its worst first two days to a Q4 since 2009 with the index falling just a hair under 3% so far in October. As a result, bullish sentiment has also taken a fairly dramatic negative turn. AAII's survey of investor sentiment only saw 21.37% of respondents report as bulls this week. That is an eight percentage point decline from one week ago. While the first couple of weeks of August saw a much sharper decline of 16.78 percentage points, this most recent drop brings bullish sentiment to its second-lowest reading of the past year. In fact, last December's 20.9% was the only lower reading for bullish sentiment going back to 2016. Bullish sentiment is also now over one standard deviation below its historical average.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/sentiment-tanksAAII Website:
https://www.aaii.com/sentimentsurvey
