Thursday, January 20, 2011

AAII Investor Sentiment - Week Ending 1/19

Sentiment remains historically high bullish, low bearish although both have continued to move off their high levels.  The bullish sentiment dropped to 50.7% from last week's 52.3% while the bearish sentiment rose to 29.1% from 23.4%.  The AAII survey results are below.

Also there are two charts of this data VS the SPX.  It looks more and more like a correction in the SPX is imminent (dare I say those words).  Purely looking at this data SPX looks headed to the 1,200 range.  To say the AAII data determines SPX fair value would be a huge stretch and I am not saying that.  The way you can look at these charts though is traders have lightened up on their bullish position and shifted more neutral.


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