The bulls in the Investors Intelligence survey fell from 37% to 32.6% in the latest week. That is quite shocking given the rise in the market and in a vacuum is bullish.

1 comment:

Onlooker said...

Yes, once again this bearishness shown in the RYDEX numbers and these surveys should give bears very big pause about the near term prospects for this market.

They're gonna chase this market sooner or later (they always do) and they have shown themselves to be terrible timers. I'm standing pat here.

With that said I'm sure we're going to see an evolution of the sentiment numbers as this secular bear continues. More and more long term bearishness will set in and it's going to be tricky to interpret the survey data I would think. Hopefully the RYDEX traders don't fundamentally change though, being as short term minded as they have always been.