Is the Glass Half Empty or Half Full?
Chart of the Week for September 28-October 4, 2001
Each week Investors Intelligence polls investment advisers for their outlook on the market. The latest sentiment poll indicates more investment advisers are now negative than positive. This marks the first time in nearly three years bears outnumber bulls. Typically this poll is used as a contrarian indicator. When too many advisers are bullish, the market is likely to decline. Conversely, when too many advisers are bearish, the market is likely to rise, so the theory goes. The correction line represents advisers expecting weakness in the near-term while maintaining an optimistic outlook for the longer-term.
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