Correction Over? Still A Mixed Market

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Nervous tensioned investors analyzing crisis stock market. getty There was plenty of investor and trader angst at the start of last week, consistent with the prior week’s sharp decline in the Bullish% figures from the American Association of Individual Investors. On September 8, 38.9% of individual investors were bullish, but the following week only 22.4% were bullish. The Bearish% rose from 27.2% to 39.3% during this period. Given my technical appraisal of the stock market two weeks ago, I was surprised that investors and traders were not more worried about the stock market. As has recently been the case, the dip buyers moved quickly and started buying before the close on Monday. Stocks then moved higher for the rest of the week. By last Thursday’s AAII survey, the Bullish% had increased to 29.9% from 22.4%, while the Bearish% was virtually unchanged. Though some downplayed its impact on the US market, the debt crisis surrounding Chinese co
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