From the desk of Willie Delwiche.

Key Takeaway: Investors are identifying with fear and pessimism as bears dominate the surveys. But we have yet to see the type of pessimism that drives market participants to do something...

From the desk of Willie Delwiche.

Key Takeaway: There is abundant focus on weekly and monthly surveys showing evidence of investor pessimism with regard to equities. This is at odds with the strategic positioning...

Very high cash levels are a good thing.

Investors being scared to death is historically a net positive for stocks, not a negative.

From the desk of Willie Delwiche.

Key Takeaway: Put/call ratios are high, there are more bulls than bears on both the AAII and II surveys (a rarity over the past decade) and active investment managers have slashed equity...

It's happening.

Investors are bearish.

Especially American ones with a ton of Growth exposure!

From the desk of Willie Delwiche.

Key Takeaway: Optimism wanes, and pessimism builds as the II bull-bear spread narrowed last week to just 1.2%, down more than 4% from the previous week. That brings the spread to its...

From the desk of Willie Delwiche.

Key Takeaway: Speculative excesses have been unwinding for a year and that has taken its toll on investor sentiment. The overall mood is characterized by a lack of optimism rather than...

Did The Economist just call the bottom for the market?

Take a look at the latest cover.

They're asking the question, ...

From the desk of Willie Delwiche.

Key Takeaway: Sentiment has unwound to a point that it’s now seen as an opportunity rather than a risk. Pessimism runs high, investors are cranky, and we have had the most bears since...

You guys know me by now. I'm not exactly "Mr. Seasonality" where we follow seasonal trends tick for tick.

That's not how markets work.

From the desk of Steve Strazza @Sstrazza

We held our February Monthly Strategy Session Tuesday night. Premium Members can access and re-watch it here...

From the desk of Willie Delwiche.

Key Takeaway:  Investor sentiment looks washed out - at least for now. Investor sentiment was a headwind early in 2021 but more recently had been a neutral market influence from our...

From the desk of Willie Delwiche.

Key Takeaway: US stocks are on the ropes after taking a series of heavy hits in recent weeks. This comes against a backdrop of rising volatility and fear, fueling an increase in pessimism...

From the desk of Willie Delwiche.

Key Takeaway: A sentiment unwind can be constructive if it bends but doesn't break. That is, if volatility squeezes out some excessive optimism without ushering in pessimism. On the other...

From the desk of Willie Delwiche.

Key Takeaway: Investor sentiment surveys are showing waning optimism as 2022 gets underway but there is still little evidence of fear. From a flow and positioning perspective, the 2021...

From the desk of Willie Delwiche.

Key Takeaway: Year-end strength in stocks alleviated some of the concern that had crept into investors’ collective psyche. Short-term sentiment swings aside, investors remained...

Our friends over at Stockcharts.com asked me to put together a short video on the most important theme of 2021.

For me, it's hard to ignore how...

From the desk of Willie Delwiche.

Key Takeaway: The sentiment backdrop is more characterized by a lack of optimism than widespread pessimism. This is in sharp contrast to the experiences of December 2020 and 2019. In those...

From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley

We study a wide variety of sentiment data as we incorporate many different indicators into our day-to-day analysis.

In its simplest form, sentiment tells us how...

From the desk of Willie Delwiche.

Key Takeaway: We have seen some evidence of fear on a shorter-term basis, but still plenty of optimism (and risk) from a longer-term positioning perspective. If we had to sum up the...

Are you watching this?

We're seeing the fewest amount of bullish financial advisors since April of 2020, when things were as bad as it gets.

From the desk of Willie Delwiche.

Key Takeaway: Volatility is on the rise and the bulls are in retreat. The recent downside pressure on risk assets has driven investors to take caution. Yet, pessimism remains...