May 27, 2022
Bespoke’s Crypto Report contains numerous technical, momentum, and sentiment charts for bitcoin, ethereum, and other key cryptos. Page 1 of the report includes our weekly commentary on the space and attempts to identify any new trends that are emerging. The remaining pages include important overbought/oversold levels to watch, charts on historical drawdowns and rallies, seasonality trends, futures positioning data, Google search trend shifts, and more. Our weekly Crypto Report is produced so that followers of the space can more easily stay on top of price action, technicals, seasonality, and sentiment.
Sign up for a monthly or annual subscription to Bespoke Crypto to receive our weekly Crypto Report and anything else we publish related to cryptos. Note: If you’re currently a Bespoke Premium, Bespoke Newsletter, or Bespoke Institutional subscriber, you’ll need to subscribe to Bespoke Crypto as an add-on to receive access. The weekly Crypto Report and any additional crypto analysis is not included with our Premium, Newsletter, or Institutional memberships. You can sign up for Bespoke Crypto and receive our Crypto Report in your inbox weekly using the monthly or annual checkout links below. If you sign up for the annual plan, the first year of access is 50% off!
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May 26, 2022
Log-in here if you’re a member with access to the Closer.
Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin tonight by taking a look at whether or not credit markets confirmed the move in equities and recent developments in bond market volatility (page 1). We then provide a breakdown of today’s GDP revisions (page 2) with a closer look at Rich’s Ratio, the personal savings rate, and gross domestic income (page 3). We also take a more in depth look at the inventory and investment components of GDP (page 4). We finish with a recap of the historically strong 7 year note auction (page 5).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
May 26, 2022
In spite of the S&P 500 actually reversing course and heading higher in the past week, sentiment on the part of individual investors surveyed by the American Association of Individual Investors has turned lower, once again falling below 20%. That is the first sub-20% reading since the last week of April, although the multiple readings in the mid-teens last month were lower than this week’s reading.
The past several months as the major indices have entered downtrends have seen an impressive collapse in optimism. Over the past six months, slightly more than half of the time less than a quarter of AAII respondents have reported as bullish. Going back through the history of the survey beginning in the late 1980s, there have only been two other periods with this same sort of consistently pessimistic attitude for an extended period of time: late 1988 to early 1989 and two years later in early 1991.
Given bulls were hard to find, bearish sentiment ticked up to 53.5%. Although over half of respondents are expecting lower stock prices, that is still not as high of a reading as the end of April when it was nearly 60%.
Regardless, bears continue to heavily outweigh bulls as the bull-bear spread has now sat in negative territory for all but two weeks over the past half-year.
The bearish camp did not pick up all of the losses in bullish sentiment. Neutral sentiment rose back up to 26.7% this week marking the highest reading in a month. That being said, the reading remains below the historical average of 31.43%. Click here to learn more about Bespoke’s premium stock market research service.
