Sentiment Update: Slight Decline but Still Bullish

Investor sentiment declined slightly last week but remains very bullish. The NAAIM (active money managers) survey for this week showed a decrease of 2.6% in bullish sentiment while the AAII (individual investors) survey showed decrease of 2.8%.

This week, active managers have, on average, an 84% allocation to equities down from 86% last week. The median allocation rose to 97% while the top quartile of active managers have an allocation of 100% or greater to equities with the bottom quartile having a 70% or less equity exposure. The eight week moving average is now at 79%. The 84% bullish allocation is more than one standard deviation from the historical average.

The NAAIM

Sentiment Update: Active Managers Betting the Rally Will Continue

Active money managers are betting the rally will continue. The NAAIM (active money managers) survey for this week showed an increase of 4.2% in bullish sentiment while the AAII (individual investors) survey showed small decrease of 2.1%.

This week, active managers have, on average, an 86% allocation to equities. This is up from 82% last week and the highest allocation since late September 2009 when the market did indeed continue to rally. The median allocation rose to 97% while the top quartile of active managers have an allocation of 100% or greater to equities with the bottom quartile having a 70% or less equity exposure. The eight week

Sentiment Update: Investor Sentiment Bounces Back

After a pullback last week in individual investor sentiment this week’s jump puts the sentiment reading back in the elevated range. The NAAIM (active money managers) survey for this week showed an increase of 6.0% in bullish sentiment while the AAII (individual investors) survey showed large increase of 9.5%.

This week, active managers have, on average, an 82% allocation to equities. This is up from

Sentiment Update: Individual Investor Sentiment Drops

The NAAIM (active money managers) survey for this week showed an increase of 5.4% in bullish sentiment while the AAII (individual investors) survey showed large decrease of 8.7%.

This week,

Sentiment Update: Still Bullish

Bullish Sentiment remains high. On average, sentiment readings at these levels have not been favorable  for equity markets.

Both investor sentiment surveys I follow show bullish sentiment remains wells above average despite a drop this week. The NAAIM (active money managers) survey for this week showed a decrease of 6.1% in bullish sentiment while the AAII (individual investors) survey showed an decrease of 1.6%.

This week