This chart shows the 52-week moving average of the AAII bull/bear index (American Association of Individual Investors). 52 weeks removes seasonality from the number and gives startling results.
Click chart to see full sized pdf image I explain what this sentiment indicator and others mean to me in my newsletter. I post them here to share for all to read and make comments. Request Invitation to facebook discussion group where we have a "Sentiment" topic to discuss the weekly data.
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Disclaimer: Past performance does not guarantee future results but I prefer to listen to people who have demonstrated good, long-term published performance.
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