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Weekly Sentiment Survey Results from Lowrisk.com site.
Interesting from a contrary perspecitve,..I am not affiliated with
this site,..just find their free weekly survey results to be worthwhile. JIM
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Below are the results of our weekly "Guess the Dow" sentiment
survey. The survey was taken from 2/28 through 3/5 on the
Lowrisk.com web site. Number of participants: 329
30 day outlook:
48% bullish, 35% previous week
33% bearish, 44% previous week
19% neutral, 21% previous week
Well, last week our sentiment data acted as we would suspect, which
has not been the norm for much of the year so far. The market
rallied strongly last week, and our sentiment data actually grew
more bullish!
With the Dow up more than 500 points for the week, bullish sentiment
jumped 13% to end at 48%. Bearish sentiment fell 11% to finish at
33%. Meanwhile, neutral sentiment stayed pretty much even, dropping
2% to 19%.
That bullish number of 48% is the highest since a reading of 56% on
January 2nd. You might recall that as one day before the all time
high on the SP500. After that high we saw the SP500 fall 10.4% into
the 2/28 low. Of course that reading of 56% back on 1/2/2000 was a
lot higher than this reading of 48%, but we are starting to get up
near the danger zone of 50% to 60%. And considering the big picture
charts still look pretty bearish on the SP500 and Dow, this 48%
reading looks a bit scary for the bulls.
best regards,
Jeff Walker
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