Investor’s optimism swooned a bit this week after a volatile week and a few days of steep declines. The viability of the rally is being questioned now. According to the AAII bull/bear poll the % of bullish investors now stands at 34% – a relatively neutral reading during this bear market.
Meanwhile, the longer-term oriented Panic Euphoria model points towards better days ahead while the State Street Investor Confidence model shows highs that haven’t been seen since the middle of 2008. These are certainly mixed readings and provide little guidance in the near-term.