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Individual investors are still apathetic

Jason Goepfert
2020-06-25

In contrast to newsletter writers and most other surveys, individuals in the AAII poll won't budge from their bearishness. That's what they're saying, not necessarily what they're doing. The Bull Ratio has been below 50% for 18 straight weeks, the 2nd-longest streak since its inception in 1986. It reached 22 straight weeks in December 1990. The 16-week average of the ratio has dropped below 40% for the first time since 2009, but it was exceptionally early as a contrary signal, first dipping below 40% in February 2008. We'll have a closer look at it on Friday to see if any sectors or factors stood out the previous times.

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