Bullish Sentiment Plummets To Levels Not Seen Since March '09

If you’ve been feeling bearish lately, you’re not alone: bullish sentiment is falling both hard and fast.

According to Bespoke Investment Group, newsletter writers haven’t been this bearish in ages.

Bespoke: Although the S&P 500 is down less than 7.5% from its January high, bulls are heading for the hills.  According to Investors Intelligence, bullish sentiment among newsletter writers is currently at 34.1%, which is the lowest level since March 2009.  At the same time, bearish sentiment (26.1%) is the highest since November, while the percentage of newsletter writers in the correction camp has sky-rocketed all the way to 39.8%, which is a level that hasn’t been seen since 1983.

bespoke bullish to bear 09 to 2010

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