NAAIM President Dave Moenning recently posted his latest analysis of the NAAIM Exposure Index on his State of the Markets website
Analysis of the Data:
Our analysis of the data shows this to be a bullish level of exposure for NAAIM’s active risk managers and a slight increase from last week’s reading of 89.84% (two weeks ago: 85.20%).
NAAIM President, Dave Moenning noted that NAAIM’s active risk managers appear to be giving the bulls the benefit of the doubt at this time. “Although the stock market (as defined by the S&P 500) has been moving sideways during the month of March, NAAIM’s active risk managers remain largely bullish.” Moenning said.
“Experienced traders know that stocks tend to exit a consolidation phase heading in the same direction they were when the consolidation began. Based on the current bullish level of exposure, it appears that NAAIM managers are betting on an upside breakout,” Moenning added. “However, if the range resolves to the downside, rest assured that NAAIM’s active managers probably won’t waste much time in moving to defensive positions.”
– See more at: State of the Markets Report 39683