Investor's Intelligence Survey Shows Highest Bearish Sentiment Since March 2003

|
Includes: IVV, SPY
by: Bespoke Investment Group

Hickey and Walters (Bespoke) submit: Wednesday’s release of the Investor’s Intelligence survey showed the highest level of bearish sentiment since March 12, 2003, as 37.4% of respondents see the market declining.

In the chart of the S&P 500 below, we note each occurrence since 2000 where the level of bearish sentiment exceeded 33.3%. Since 2000, the S&P 500 has had above average returns over the next week (0.46%) and month (1.62%).

click to enlarge
bearish sentiment