source: AAII
Last week we noted that AAII bullish sentiment had started coming down along with the market and that we would look for a drop to the low 30s/high 20s before considering some new longs:
As you can see, we are getting closer as bullish sentiment has dropped to 32.42% after a decent pullback last week. Option expiration week trends bullish (as far as price action goes), so we would look to see how things hold up next week in the face of the “blackout period” – when companies are limited from buying back stock prior to earnings.
If you found this post helpful, please consider visiting a few of our sponsors who have offers that may be relevant to you.
