What Stood Out This Week
Sentiment Overview
- The Risk-On/Risk-Off Heatmap remains neutral, hovering near the 50th percentile—well above April’s lows, but below the high-60s levels seen last year.
- The AAII Bull-Bear survey also signals neutrality, showing a nearly even split between Bulls and Bears for two weeks straight.
- More indicators moved bearishly than bullishly this week—twice as many.
- The Investors Intelligence Bull-Bear survey saw the biggest gain over the past month. It’s a decent indicator (scored 2 out of 3) but remains below its historical sell threshold.
Equities
- Most bullish sector: Communication Services
- Most bearish sector: Consumer Discretionary
- Tech sentiment: Rising, but not yet at extreme levels.
Currencies
- USD sentiment has bounced from recent lows. It’s no longer the least popular currency but remains bearish across the board.