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 94% this week. NAAIM members are still very optimistic & bullish. Image: National Association of Active Investment Managers (NAAIM)
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
AAII U.S. Investor Sentiment Bull vs. AAII U.S. Investor Sentiment Bear Spread The current spread suggests excessive pessimism. Image: Nautilus Research
Weekly AAII Investor Sentiment Survey Bulls push above bears, but when doubt and fear are still present, it does not usually look like a major market top. Image: Reuters
AAII Bullish Sentiment 2009-2020 Optimism among individual investors is now the highest since October 2018. Image: Bespoke Investment Group
U.S. AAII Sentiment Survey and S&P 500 This chart shows that market sentiment is important to contrarian investors. Image: Pictet Asset Management
Global Equity Market Sentiment Chart suggesting that global investors have become euphoric again. Image: Nomura
Sentiment Indicator Are investors be too bullish? Currently, the sentiment indicator is above average at 1.2 standard deviations. Image: Goldman Sachs Global Investment Research
Investor Movement Index vs. S&P 500 The Investor Movement Index indicates the sentiment of TD Ameritrade retail investors. Thus, retail investors are net buyers of equities when the stock market is expensive, and they are net sellers of equities when the stock market is cheap. As usual, retail investors react to equity price movements. They buy and sell…
“U.S. Stock Market, No Froth In Sight” Says Stock Market Sentiment Index Keep in mind that it is just another investor sentiment tool. But it does not show at all if the US stock market is overvalued or undervalued. See our stock market valuation model (99% correlation and R² = 0.97 since 1970).