Israel’s gains against the grain

May 11, 2024 Leave a comment

Under the category of being steadfast when buying (or investing) at a time of crisis or intense pessimism….

at the moment when its was both (simultaneously) trading at a weekly oversold level and 2.5 standard deviations below its weekly mean….

Israel’s Tel Aviv 25 equity index has risen 25% within 7 months.

The mind boggles.

Admittedly, this market wasn’t within my focus in October 2023 as many other indices were cratering at the same time.

The TA35 has easily outperformed Australia’s ASX 200 which has risen 14% from its October 2023 trough.

Screenshot

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That’s why it felt bearish

November 2, 2023 Leave a comment

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

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