NAAIM Exposure Index – Investor Sentiment The National Association of Active Investment Managers Exposure Index represents the two-week moving average exposure to U.S. equity markets reported by NAAIM members. The NAAIM Exposure Index stands at 54.33, active investment managers are less optimistic. Image: National Association of Active Investment Managers (NAAIM)
NAAIM vs. S&P 500 Index Active investment managers are often criticized for their tendency to sell equities at market bottoms and buy them at market tops. Image: Real Investment Advice
S&P 500 and NAAIM Index Above 97 Active investment managers are notorious for selling equities at bottoms and buying them at tops. Image: Real Investment Advice
NAAIM 4-Week Average vs. S&P 500 Index The NAAIM 4-week average index is not far from very extreme greed levels. Image: Real Investment Advice
Sentiment – S&P 500 vs. NAAIM Exposure Index Active investment managers are chasing price. Are they too optimistic? Image: Morgan Stanley Research
Investor Sentiment – S&P 500 and NAAIM Index Below 40 The NAAIM index below 40 often coincides with short-term market bottoms. Image: Real Investment Advice
NAAIM Exposure Index and S&P 500 Index Asset Manager/Institutional Short Futures Only Open Interest Is the U.S. stock market ripe for a correction? Image: BCA Research
NAAIM – Equity Exposure of U.S. Active Managers U.S. active managers are optimistic, as they have the highest level of exposure to equities in over two years, betting on a rebound in global growth. Image: Morgan Stanley Research
Investor Sentiment – NAAIM Exposure Index and S&P 500 NAAIM Exposure Index dropped to 56.15% (median exposure at 70%). NAAIM members’ optimism was short-lived. Image: Willie Delwiche, Baird