That’s why it felt bearish

If it feels that many are bearish, it’s because they are.

The weekly AAII Investor Sentiment Survey just released its latest result.

For the week ending Wednesday November 1, 2023, their survey respondents were;

Bullish 24.3%
Neutral 25.4%
Bearish 50.3%

This week’s result has recorded the highest ‘bearish’ survey reading since the week ending December 22, 2022.

And it’s also the largest negative spread between the bullish and bearish reading being (26%) since the week ending March 23, 2023.

The vertical lines in the attached chart of the S&P 500 highlight those previous moments, which marry up with the measured sentiment.

November 2, 2023

by Rob Zdravevski

rob@karriasset.com.au