Good News – Global Managers Are Getting Nervous

Good News – Global Managers Are Getting Nervous

Traders work on of the floor of the New York Stock Exchange (NYSE) (Photo by Spencer Platt/Getty ... [+] Images) The summer expectations of both consumers as well as investors have cooled in the past month and the wide swing in the stock markets last week did not help. The surprise mid-month drop in the University of Michigan's Consumer Sentiment was hanging over the markets as the week started. Monday's small gain in the S&P 500 was not reassuring, while the declines of 0. 70% and 1. 07% on Tuesday and Wednesday made investors more nervous. In the latest survey by the American Association of Individual Investors, the Bullish% declined to 33. 2% from 37%. The Bearish% rose to 35. 1% from 31. 5%. Typically, sustainable stock market bottoms are often formed when the Bullish% is closer to 20%. It was another good week for the Dow Jones Utility Average, which gained 1. 3% and now shows a double-digit year-to-date gain while only the SPDR Gold Shares is lower YTD, down 6. 5%. For the week, the growth stocks were stronger as the S&P Growth Index ($IGX) was up 0. 15% while the S&P Value Index ($IVX) down 1. 44%.