This was on CNBC however I wished to focus on it as US equities stage a little bit of a comeback (S&P 500 decline all the way down to 13 factors).
Each week the American Assocition of Individual Investors surveys members on how they’re feeling concerning the market. They’ve solely hit 60% bearish 4 instances beforehand: Twice in 1990, as soon as in 2008 and as soon as in 2009.
This week is the fifth time:
Sentiment is extraordinarily damaging on this and related measures of institutional sentiment. We’re additionally within the worst seasonal week of the 12 months.
The manner I see it, we’re both going to see a Black Friday like implosion in markets or we’re near the underside. I do not assume it is the time to purchase but but when bonds stabilize within the subsequent few days, we may have a rally.