Bears surge in AAII survey
• Those in the bullish camp fell 5.5 points to 29% and neutrals fell 9.1 points to 28.2%. The number of bears jumped 14.7 points to 42.9%.
• It's the most bears since the April 18 survey and the fewest bulls since that date as well.
• Contrarian fans of sentiment polls who also happen to be bullish may take comfort in the AAII numbers combining with Investor Intelligence results showing more than 35% believe a correction is coming. Previous moves above 35% have marked lows this year, notes Ryan Detrick.
Regards,
frenchee
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