PDF Stock Market Indicators: Bull/Bear Ratios

Stock Market Indicators: Bull/Bear Ratios

Yardeni Research, Inc.

June 10, 2020

Dr. Edward Yardeni

516-972-7683 eyardeni@

Joe Abbott

732-497-5306 jabbott@

Debbie Johnson

480-664-1333 djohnson@

Please visit our sites at blog.

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Table Of Contents Table Of Contents

Bulls & Bears

1

Bull/Bear Ratio Over 3.0

2

Bull/Bear Ratio Under 1.0

3

Bull/Bear Ratio Under 1.0 & Over 3.0

4

AAII Sentiment

5

Bull & Bears

6-9

June 10, 2020 / Stock Market Indicators: Bull/Bear Ratios

Yardeni Research, Inc.



Bulls & Bears

Figure 1.

6

6

INVESTORS INTELLIGENCE BULLS & BEARS

5

Ratio

Ratio

5

Bull/Bear

May 26

2.12

4

Ratio*

Jun 2

2.26

Jun 9

2.76

4

3

3

6/9

2

2

1

1

0

0

87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

80

Percentage

Bulls Bears

70

Bulls

May 26

50.5

23.8

Jun 2

53.5

23.7

Bears

Jun 9

56.9

20.6

60

80

70

60 6/9

50

50

40

40

30

30

20

20

10

10

87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

50

50

45

Percentage

Correction

45

Correction

May 26

25.7

40

Jun 2

22.8

40

Jun 9

22.5

35

35

30

30

25

25

6/9

20

20

15

15

10

10



5

5

87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

Source: Investors Intelligence.

Page 1 / June 10, 2020 / Stock Market Indicators: Bull/Bear Ratios

Yardeni Research, Inc.



Bull/Bear Ratio Over 3.0

Figure 2.

3800

3400

3000

S&P 500 INDEX vs. BULL/BEAR RATIO OF

2600

3.0 OR MORE* (ratio scale)

2200

1800

1400

1000

600



3800 6/9 3400

3000 2600 2200 1800 1400

1000

600

200

200

87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21

* Red shaded areas indicate Bull/Bear Ratio equal to or greater than 3.0. Source: Standard & Poor's and Investors Intelligence.

31600 26600 21600

16600

Figure 3.

DOW JONES INDEX vs. BULL/BEAR RATIO OF 3.0 OR MORE* (ratio scale)

11600

31600 6/9 26600

21600 16600

11600

6600

6600



1600

1600

87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21

* Red shaded areas indicates Bull/Bear Ratio equal to or greater than 3.0. Source: Wall Street Journal and Investors Intelligence.

Page 2 / June 10, 2020 / Stock Market Indicators: Bull/Bear Ratios

Yardeni Research, Inc.



Bull/Bear Ratio Under 1.0

Figure 4.

3800

3400

3000

S&P 500 INDEX vs BULL/BEAR RATIO

2600

OF 1.0 OR LESS*

(ratio scale)

2200

1800

1400

1000

600

3800

6/9

3400

3000

2600

2200

1800

1400

1000



600

200

200

87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

* Green shaded areas indicate Bull/Bear Ratio equal to or less than 1.0. Source: Standard & Poor's and Investors Intelligence.

31600 26600 21600

16600

Figure 5.

DOW JONES INDEX vs. BULL/BEAR RATIO OF 1.0 OR LESS* (ratio scale)

11600

31600

6/9

26600

21600

16600

11600

6600

6600



1600

1600

87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

* Green shaded areas indicates Bull/Bear Ratio equal to or less than 1.0. Source: Wall Street Journal and Investors Intelligence.

Page 3 / June 10, 2020 / Stock Market Indicators: Bull/Bear Ratios

Yardeni Research, Inc.



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