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Chart of the Week – Investor Sentiment: S&P 500 (SPX) & Retail Investor Survey

Asbury Research

Contributor:
Asbury Research
Visit: Asbury Research

By:

CMT Chief Market Strategist

NEAR TO INTERMEDIATE TERM BEARISH

The chart below shows that a daily survey of retail futures traders is retracting from a mid-July previous most bullish extreme of 81% bullish or higher, but is only about halfway to reaching opposite least bullish extremes that have historically coincided with market bottoms.  This metric warns there is more downside to come within the current August decline.

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This material is from Asbury Research and is being posted with permission from Asbury Research . The views expressed in this material are solely those of the author and/or Asbury Research and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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