Market Sentiment

The market sentiment indicators provided below cover the United States only.

Wall Street Sentiment Survey

Wall Street Sentiment Survey

AAII Sentiment Survery

AAII Sentiment Survey

NAAIM Exposure Index

NAAIM Exposure Survey

CBOE Volatility Index

Wall Street Sentiment Survey

CBOE Put to Call Ratio

The chart below shows the total put to call ratio, the index put to call ratio and the equity put to call ratio respectively. In order to smooth the data a simple moving average has been applied to the total put to call ratio.

CBOE Put Call Ratio

CNN Fear and Greed Index

CNN fear and greed index CNN fear and greed historical index

Michigan Consumer Survey: Probability of Increase In Stock Prices in 1 Year

Sources and notes

Wall Street Sentiment Survey

This data is compiled from a weekly survey of a group of experienced traders and analysts. The poll asks participants for their forecast for the next week - bull, bear or neutral. Because this group is deemed more professional its readings are not always viewed as contrarian. Polling is conducted after the market close on Friday and the results are normally published over the weekend. In contrast, the majority of other sentiment polls are taken during the week when the market is active and changing.

American Association of Individual Investors (AAII)

AAII takes a weekly survey of its members asking them if they are bullish, bearish or neutral.

CBOE Volatility Index

The CBOE Volatility Index, also known simply as the VIX, tends to move inversely with prices. Increasing volatility indicates rising investor fear.

CBOE Put/Call Ratio

This data is from the Chicago Board Options Exchange (CBOE) and shows put volume to call volume. It is a contrarian indicator that can be used to gauge market sentiment. This data is broken into three parts: CBOE Equity Put/Call Ratio, CBOE Index Put/Call Ratio and the CBOE Total Put/Call Ratio.

  • The CBOE Equity Put/Call Ratio focuses on options traded on individual stocks.
  • The CBOE Index Put/Call Ratio focuses on options traded on the major indices.
  • The CBOE Total Put/Call Ratio is the two ratios (individual and index) combined together.
  • How to read this

    In general, index options are associated with professional traders and equity options are associated with non-professional traders. Options are one of the instruments that money managers use to hedge their portfolios. The CBOE index put/call ratio can help indicate what the big money is doing.

    Sentiment is deemed excessively bearish when the put/call ratio is trading at relatively high levels and excessively bullish when at relatively low levels. When the put call ratio moves above 1.0 it suggests the market is becoming oversold.

    National Association of Active Investment Managers (NAAIM)

    NAAIM is a professional group that reports its exposure to US stocks on a weekly basis. The index reflects the average exposure of NAAIM members.

    CNN Fear and Greed Index

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