I focus on the AAII sentiment indicator when it is at true extremes. This week, the bullish sentiment moved back down to 33% from 37%. This is a neutral rating (not optimistic or excessively pessimistic). The Bearish Percent creeped up to 27% from 23% which is still pretty complacent until we see a move to the high 30s/low 40s. So while there is no euphoria on the side of the bulls, there is also very little fear and still a decent amount of complacency- hence NO MAN’S land part Trois!
The past 3 weeks of “No Man’s Land Parts un-trois” are also reflected in the indices which have basically gone nowhere in the month of March:
Here are the last two editions of “No Man’s Land:”
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