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Data Drop: Investors Intelligence (II) Marked a Decline in Optimism

The bulls-minus-bears line pulled back this week

by 10/10/2012 9:50:06 AM
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The weekly figures from the Investors Intelligence (II) sentiment survey are out. Here are the highlights:

  • Bullish sentiment among advisors fell to 45.7% (1.1% decrease).
  • Bearish sentiment among advisors was unchanged at 25.5% (0.0% increase).
  • 28.8% of advisors foresee a correction in the market.

The bulls dropped a bit this week, and the bears remained the same, so there was a slight dip in the bulls-minus-bears line. With the market near multi-year highs, it's encouraging that the bulls-minus-bears line is only about 20%. A difference of 40% is a level which we consider extreme. So, there could still be significant upside left in this rally.

Bulls-Bears Line in Relation to the SPX

The table below compares the current data to typical data since 2005. Optimism is not much higher than the average.

II Bulls-Bears Data Since 2005

Here are some additional articles of interest:

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