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Our Fundamental Stock Market Indicator (FSMI) has stalled recently around cycle highs. The FSMI fell 2.6% during the week ending April 23 after rising three of the prior four weeks, for a total gain of 2.9%. That followed a three-week decline of 4.0%. It’s within 3.7% of its cyclical high posted during the final week of February. |
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The Bull/Bear Ratio compiled by Investors Intelligence jumped back up to 3.33 from 2.94 last week and 2.82 two weeks ago. Bullish sentiment edged up for the second straight week to 54.9%. Bearish sentiment fell for the second straight week from 19.2% to 16.5%. (We update these charts for subscribers to our service in our Stock Market Sentiment Indicators briefing book.) |
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