NAAIM Sentiment Observation

So, median NAAIM exposure fell from 95% to 90%--still in sell territory. More interesting is the drop in average NAAIM exposure from 85.91% to 77.22%. This looks to me like a couple managers went short. Top picking is likely to explain this unrelenting resilience. Mark

85.91 77.22

what are those numbers, the percent of bulls this week versus last?

refresh. Had an edit problem. Mark