only 36 percent of respondents described their outlook as bullish....Over the same period, those calling themselves bearish have climbed to 28.
So, the bearish are still in the minority, of those who had an opinion, which was (36+28) 64 percent of respondents in AAII poll.
OTOH, A recent poll of top Wall Street strategists by Reuters, conducted before the Dow's pair of 200-point declines this week, showed little if any near-term optimism on Wall Street.
Most said the simple fact that interest rates are rising, rather than steadily declining as they have in recent years, capped any potential market gains for this year. On average, the analysts saw the Dow ending at about 10,700 by year's end, well shy of its high of 11,326.04 on Aug. 25.
Notice, it is interesting that the poll of WS strategists was conducted before the twin 200 pt daily DJIA drops this past week. So the WS Strategists, bearish as they were, were correct.
So, it appears to me that there is a divergence between AAII members and WS strategists. On balance, who knows what the consensus is. While bearish sentiment is obviously on the rise (in the AAII poll), this merely reflects the recent drop during the current month, IMO. |
