Wednesday
Feb102010
Bullish Sentiment Drops to Lowest Levels Since March
Wednesday, February 10, 2010 at 03:37PM Although the S&P 500 is down less than 7.5% from its January high, bulls are heading for the hills. According to Investors Intelligence, bullish sentiment among newsletter writers is currently at 34.1%, which is the lowest level since March 2009. At the same time, bearish sentiment (26.1%) is the highest since November, while the percentage of newsletter writers in the correction camp has sky-rocketed all the way to 39.8%, which is a level that hasn't been seen since 1983.
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Reader Comments (3)
Based on this information we must be getting close to a bottom.
Will it hit rock bottom first before going back up again?
I'm waiting until we hit the 200-day sma and I'll re-evaluate if we're going lower still.
We are at least in a correction, which looks largely initiated by the unwinding of the USD carry trade.