S&P 500 vs NAAIM Exposure Index │ ISABELNET

The National Association of Active Investment Managers Exposure Index represents the two-week moving average exposure to U.S. equity markets reported by NAAIM members.

 The NAAIM Exposure Index, with a reading of 95.58, indicates a strong bullish sentiment among active investment managers, reflecting their high confidence in the future trajectory of the stock market (published Feb 16, 2024).

 

 S&P 500 and NAAIM Index above 97 (published Feb 15, 2024)

Active investment managers are notorious for buying equities at tops and selling them at bottoms, highlighting the difficulties they encounter in accurately timing the market and making lucrative investment choices.

Reference:
ISABELNET (Feb 15+16, 2024) - S&P 500 and NAAIM Exposure Index above 97.

 

Still up: The 3 Day, the 9 Day and the 18 Day cycles vs the S&P 500 Index.

 

Jeffrey A. Hirsch (Feb 16, 2024) - DJIA S&P 500 & NASDAQ are all up 7 of last 12 days after the Presidents’ Day, but long-term record remains weak. Since 1990, average performance ranges from –0.56% for NASDAQ to –0.28% for DJIA. 

Sizable declines in the last 2 years have worsened the record.