AAII Bearish Sentiment Index as of 12172009
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0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Bearish Sentiment and JSCO Pain Index -50.0% -40.0% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% S&P 6 mo. fws performance AAII Bearish Sentiment Bearish Sentiment + 2 StdDev This week's bearish reading Normal Bearish JSCO Pain Index (S&P weekly data) JSCO Pain Index 8 wk Avg S&P 6 months forward performance Maximum bearish sentiment in 21 years In 2002, 2004, and 2005, bearish sentiment was nearly as high as it was in March 2009; 6 months later (as indicated by the black dots), share prices rose hi h
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Transcript of AAII Bearish Sentiment Index as of 12172009
0.0%
10.0%
20.0%
30.0%
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Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08
Bea
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S&P
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AAII Bearish Sentiment Bearish Sentiment + 2 StdDev This week's bearish readingNormal Bearish JSCO Pain Index (S&P weekly data) JSCO Pain Index 8 wk AvgS&P 6 months forward performance
Maximum bearish sentiment in 21 yearsIn 2002, 2004, and 2005, bearish
sentiment was nearly as high as it was in March 2009; 6 months later (as indicated
by the black dots), share prices rose hi h
