II sentiment survey, from Market Harmonics
market-harmonics.com
I won't be able to post the charts this weekend, as I am not at my home computer, and the computer I have access to doesn't seem to have the right kind of mouse to copy the chart links. So anyone interested in seeing the charts will have to go to the above link at Market Harmonics.
It is worth noting, though, that as of Aug 31, the number of Bulls in their survey dropped to 29.4 (from 33.3 the previous week), and the Bears rose to 37.7 (from 31.2), for a spread of -8.3 and a B/B ratio of .78. That ratio is the lowest since about April 2009, as is the B/B spread and the percentage of bulls, while the percentage of bears is the highest since about May 2009.
IMHO, all of these things are either very bullish, or we are headed for a crash, as in the fall of 2008. One or the other. Or, I guess, given the way things went at the end of August and the way Sept has begun, we could get both of the above in different months! About the only thing I am pretty sure of is that it won't be boring, as it was for awhile during the summer.
FWIW, I am in the bull camp. But then, I thought last June that the SOXX would be above 400 by now, so WTFDIK? |
