The “Investors Intelligence Survey“ or IIS is one of the oldest weekly sentiment indicators used today. Charts of the Investors’ Intelligence Survey (IIS) “Bulls over Bulls plus Bears” versus the market are key tools for stock market technical analysis or sentiment. The IIS began in January 1963 by A.W. Cohen and has been published every week ever since.
Sentiment is down a bit from the high set last week.
Chart of Investors Intelligence Sentiment Survey
Bulls / (Bulls+Bears) vs S&P 500
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Of course, low sentiment is often a good indicator of great times to buy. For example, in early 2009, the stock market was bottoming at 666 and sentiment had crashed so I was a buyer using cashed I raised near the top (pdf from newsletter) in 2007:
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This table shows my newsletter "Core and Explore Portfolios" from 1998 through the end of 2013
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