The weekly figures from the Investors Intelligence (II) sentiment survey are out. Here are the highlights:
Bullish sentiment among advisors fell to 42.6% (3.1% decrease).
Bearish sentiment among advisors rose to 26.6% (1.1% increase).
30.8% of advisors foresee a correction in the market.
There is more pessimism this week than last, as the bulls fell a decent amount and the bears rose slightly. The bulls-minus-bears line has now fallen to 16%, which is its lowest reading since the end of July. The low level of optimism shown in this poll is pretty encouraging, given the market is not too far off multi-year highs.
The table below compares the current data to typical data since 2005.
This article by Rocky White was originally published on Schaeffer's Investment Research.
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