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Daily Report : Risk appetite is waning despite stocks' rise

Jason Goepfert
2024-09-18
The S&P 500 is tickling record highs, yet risk appetite across various other markets remains curiously depressed. While some might assume this is a bullish "wall of worry," it hasn't worked that way. Stocks have usually struggled after cross-asset sentiment like this, except for defensive sectors like staples and utilities.
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Headlines

Risk appetite is waning despite stocks' rise: The S&P 500 is tickling record highs, yet risk appetite across various other markets remains curiously depressed. While some might assume this is a bullish "wall of worry," it hasn't worked that way. Stocks have usually struggled after cross-asset sentiment like this, except for defensive sectors like staples and utilities.

Smart / Dumb Money Confidence

Smart Money Confidence: 57% Dumb Money Confidence: 70%

Risk Levels

Stocks Short-Term

Stocks Medium-Term

Bonds

Crude Oil

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Agriculture

Research

Risk appetite is waning despite stocks' rise

By Jason Goepfert

BOTTOM LINE
The S&P 500 is tickling record highs, yet risk appetite across various other markets remains curiously depressed. While some might assume this is a bullish "wall of worry," it hasn't worked that way. Stocks have usually struggled after cross-asset sentiment like this, except for defensive sectors like staples and utilities.

FORECAST / TIMEFRAME
None

Sentiment Risk On / Risk Off Overview

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Indicators at Extremes

Click here to view on the site (% Extremes and "Excess" tabs on the dashboard).
% Showing Pessimism: 14%
Bullish for Stocks
Inverse ETF Volume
S&P 500 Down Pressure
Rydex Bearish Flow
OEX Open Interest Ratio
Risk Appetite Index
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 23%
Bearish for Stocks
NYSE High/Low Ratio
Dumb Money Confidence
Intermediate Term Optimism Index (Optix)
Rydex Money Market %
Rydex Ratio
SKEW Index
Retail Money Market Ratio
Insider Buy/Sell Seasonally Adj
NAAIM Exposure Index
AAII Allocation - Stocks
Mutual Fund Cash Level
Equity / Money Market Asset Ratio
NYSE Available Cash

Phase Table

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Ranks

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Sentiment Around The World

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Optimism Index Thumbnails

Sector ETF's - 10-Day Moving Average
Country ETF's - 10-Day Moving Average
Bond ETF's - 10-Day Moving Average
Currency ETF's - 5-Day Moving Average
Commodity ETF's - 5-Day Moving Average
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