Weekly Polls
Investors Intel reported 49.10% Bulls and 19.20% Bears. Last 54.70% Bulls and 18.90% week we had Bears. This is ST Neutral and IT Neutral. The Bull/Bear ratio is 2.56, which is Neutral.
National Association of Active Investment Managers (NAAIM) Sentiment Survey reported that the Median market exposure fell to 75.00% Long from 99.38% Long. This is ST Bullish and IT Neutral. Mean exposure fell to 65.03% Long from 87.91% Long. This is ST Bullish and IT Neutral. The minimum exposure fell from 0% Short to 100% Short, and Maximum exposure remained at 200% Long. Overall, this data is ST Bullish and Intermediate-term Neutral. The modest Bearish shift suggests that the market is nowhere near done.
AAII is showing 30.40% Bulls and 39.10% Bears vs. 40.60% Bulls and 28.70% Bears last week. Given the drop, this is ST Bearish for the market. IT is Neutral.
The SH saw $72MM in short-covering. I would expect just the opposite if we were making a low.
The PPT will likely wade in here, soon, but until the Bears get some serious converts, rallies are to be sold, I fear.
M