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AAII Sentiment Survey, 4/26/23

AAII Sentiment Survey, 4/26/23

For the week ending on 4/26/23, bearish became the top sentiment (38.5%; above average) & bullish remained the bottom sentiment (24.1%; low); neutral became the middle sentiment (37.4%; above average); Bull-Bear Spread was -14.4% (low). Investor concerns: Inflation (moderating but high); economy (now, the regional bank FRC?); the Fed; dollar; crypto regulations; market volatility (VIX, VXN, MOVE); Russia-Ukraine war (61+ weeks, 2/24/22- ); geopolitical. For the Survey week (Th-Wed), stocks were down, bonds up, oil down sharply, gold down, dollar down. An unusually high 1m-3m T-Bill spread remained on debt-ceiling concerns. #AAII #Sentiment #Markets


  • My concern is that the top 8-10 stocks in the S&P500 (FAANG's) seem to be the only things producing the gains in the S&P 500 while the other 490 are bobbing for air or worse. Not a good look.
  • Keeping an eye on consumer spending. Tapping the brakes or slamming on the brakes? We shall see.
  • edited April 27
    @Mark, You are spot on. The divergence old NASDAZ from DJIA and S&P500is alarming. But these FAANG stocks are also trading at high valuation. I believe everything will reverted to the mean at some point, just like the run up prior to the internet bubble back in 2000. Smaller caps stocks are trailing even more so.

    Few bright spots are developed market stocks (US dollar is falling) and high quality bonds (yielding 4-5%). Also it would be wise to position your portfolio when the situation changes and they tend to be quick. I still think holding cash is okay when money market is paying 4.5%.
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