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 77% this week. NAAIM members are less optimistic. 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
Market Sentiment (AAII) Are AAII investors too bearish? The S&P 500 is up 30%, but there are now more bears than at the March lows. Image: Fidelity Investments
Global Equity Market Sentiment Chart suggesting that global investors have become euphoric again. Image: Nomura
S&P 500 vs. AAII Sentiment Survey AAII survey is more bearish than in March, as U.S. individual investors remain pessimistic about the rally. Image: Hondo Tomasz
Sentiment Indicator (SI) Are investors too bullish? The sentiment indicator is above average at 1.7 standard deviations. Image: Goldman Sachs Global Investment Research
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