The Gilmo Report

August 14, 2022

August 13, 2022 7:04 pm ET

Sentiment among active investment managers has now turned decisively bullish. The National Association of Active Investment Managers Exposure Survey shows that those managers participating in the survey now sport a net long exposure of 71.59%, according to the latest data released on Thursday.

 

 

Meanwhile, I read various media blurbs discussing how the S&P 500 failed at the 50% retracement mark on Thursday on a long-tailed reversal, and that no bear market rally since 1950 has ever exceeded a 50% retracement of the prior decline off the absolute peak. The Fibonacci line in the sand for the S&P, therefore, lies at 4227.74, according to this statistic.

The rest of this report is available for Gilmo Report Members only.
The full report will be available 45 days after it is posted. For immediate access: login or subscribe