NAAIM

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As you would expect from the market, big jump in the bullish direction. But note the true bulls are less bullish. More hunkered down in the middle which is reflected by the very low deviation:
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]03/30/2022[/TD]
[TD="align: center"]79.72[/TD]
[TD="align: center"]40[/TD]
[TD="align: center"]62.50[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]105[/TD]
[TD="align: center"]21.67[/TD]
[/TR]
[TR]
[TD="align: center"]03/23/2022[/TD]
[TD="align: center"]52.69[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]70.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]125[/TD]
[TD="align: center"]65.32[/TD]
[/TR]
[TR]
[TD="align: center"]03/16/2022[/TD]
[TD="align: center"]46.68[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.48[/TD]
[/TR]
[TR]
[TD="align: center"]03/09/2022[/TD]
[TD="align: center"]42.58[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]70.96[/TD]
[/TR]
[TR]
[TD="align: center"]03/02/2022[/TD]
[TD="align: center"]30.30[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]72.26[/TD]
[/TR]
[TR]
[TD="align: center"]02/23/2022[/TD]
[TD="align: center"]44.41[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]47.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]71.64[/TD]
[/TR]
[TR]
[TD="align: center"]02/16/2022[/TD]
[TD="align: center"]53.49[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]72.38[/TD]
[/TR]
[TR]
[TD="align: center"]02/09/2022[/TD]
[TD="align: center"]66.80[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]37.50[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]121[/TD]
[TD="align: center"]40.53[/TD]
[/TR]
[TR]
[TD="align: center"]02/02/2022[/TD]
[TD="align: center"]62.54[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]60.00[/TD]
[TD="align: center"]90.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]49.17[/TD]
[/TR]
[TR]
[TD="align: center"]01/26/2022[/TD]
[TD="align: center"]53.39[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]70.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]66.22[/TD]
[/TR]
[/TABLE]
 
NAAIM drops and most managers are in the middle.
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]04/13/2022[/TD]
[TD="align: center"]63.29[/TD]
[TD="align: center"]-8[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]86.75[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]31.86[/TD]
[/TR]
[TR]
[TD="align: center"]04/06/2022[/TD]
[TD="align: center"]83.41[/TD]
[TD="align: center"]22[/TD]
[TD="align: center"]55.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]98.94[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]40.35[/TD]
[/TR]
[TR]
[TD="align: center"]03/30/2022[/TD]
[TD="align: center"]79.72[/TD]
[TD="align: center"]40[/TD]
[TD="align: center"]62.50[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]105[/TD]
[TD="align: center"]21.67[/TD]
[/TR]
[TR]
[TD="align: center"]03/23/2022[/TD]
[TD="align: center"]52.69[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]70.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]125[/TD]
[TD="align: center"]65.32[/TD]
[/TR]
[TR]
[TD="align: center"]03/16/2022[/TD]
[TD="align: center"]46.68[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.48[/TD]
[/TR]
[TR]
[TD="align: center"]03/09/2022[/TD]
[TD="align: center"]42.58[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]70.96[/TD]
[/TR]
[TR]
[TD="align: center"]03/02/2022[/TD]
[TD="align: center"]30.30[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]72.26[/TD]
[/TR]
[TR]
[TD="align: center"]02/23/2022[/TD]
[TD="align: center"]44.41[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]47.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]71.64[/TD]
[/TR]
[TR]
[TD="align: center"]02/16/2022[/TD]
[TD="align: center"]53.49[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]72.38[/TD]
[/TR]
[TR]
[TD="align: center"]02/09/2022[/TD]
[TD="align: center"]66.80[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]37.50[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]121[/TD]
[TD="align: center"]40.53[/TD]
[/TR]
[/TABLE]
 
NAAIM number slightly up - mostly from managers moving just slightly to the bullish. Very tight grouping (deviation below 30)
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]04/20/2022[/TD]
[TD="align: center"]74.05[/TD]
[TD="align: center"]16[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]93.75[/TD]
[TD="align: center"]112[/TD]
[TD="align: center"]28.88[/TD]
[/TR]
[TR]
[TD="align: center"]04/13/2022[/TD]
[TD="align: center"]63.29[/TD]
[TD="align: center"]-8[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]86.75[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]31.86[/TD]
[/TR]
[TR]
[TD="align: center"]04/06/2022[/TD]
[TD="align: center"]83.41[/TD]
[TD="align: center"]22[/TD]
[TD="align: center"]55.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]98.94[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]40.35[/TD]
[/TR]
[TR]
[TD="align: center"]03/30/2022[/TD]
[TD="align: center"]79.72[/TD]
[TD="align: center"]40[/TD]
[TD="align: center"]62.50[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]105[/TD]
[TD="align: center"]21.67[/TD]
[/TR]
[TR]
[TD="align: center"]03/23/2022[/TD]
[TD="align: center"]52.69[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]70.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]125[/TD]
[TD="align: center"]65.32[/TD]
[/TR]
[TR]
[TD="align: center"]03/16/2022[/TD]
[TD="align: center"]46.68[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.48[/TD]
[/TR]
[TR]
[TD="align: center"]03/09/2022[/TD]
[TD="align: center"]42.58[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]70.96[/TD]
[/TR]
[TR]
[TD="align: center"]03/02/2022[/TD]
[TD="align: center"]30.30[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]72.26[/TD]
[/TR]
[TR]
[TD="align: center"]02/23/2022[/TD]
[TD="align: center"]44.41[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]47.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]71.64[/TD]
[/TR]
[TR]
[TD="align: center"]02/16/2022[/TD]
[TD="align: center"]53.49[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]72.38[/TD]
[/TR]
[/TABLE]
 
NAAIM drops significantly but now managers are more spread out in their positions. On the ends, some are fully bulled up (200) (bottom reached?) while those in the bearish column are more shorted (-100)and expecting things to continue.
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]04/27/2022[/TD]
[TD="align: center"]46.25[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]5.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]73.38[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]69.22[/TD]
[/TR]
[TR]
[TD="align: center"]04/20/2022[/TD]
[TD="align: center"]74.05[/TD]
[TD="align: center"]16[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]93.75[/TD]
[TD="align: center"]112[/TD]
[TD="align: center"]28.88[/TD]
[/TR]
[TR]
[TD="align: center"]04/13/2022[/TD]
[TD="align: center"]63.29[/TD]
[TD="align: center"]-8[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]86.75[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]31.86[/TD]
[/TR]
[TR]
[TD="align: center"]04/06/2022[/TD]
[TD="align: center"]83.41[/TD]
[TD="align: center"]22[/TD]
[TD="align: center"]55.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]98.94[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]40.35[/TD]
[/TR]
[TR]
[TD="align: center"]03/30/2022[/TD]
[TD="align: center"]79.72[/TD]
[TD="align: center"]40[/TD]
[TD="align: center"]62.50[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]105[/TD]
[TD="align: center"]21.67[/TD]
[/TR]
[TR]
[TD="align: center"]03/23/2022[/TD]
[TD="align: center"]52.69[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]70.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]125[/TD]
[TD="align: center"]65.32[/TD]
[/TR]
[TR]
[TD="align: center"]03/16/2022[/TD]
[TD="align: center"]46.68[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.48[/TD]
[/TR]
[TR]
[TD="align: center"]03/09/2022[/TD]
[TD="align: center"]42.58[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]70.96[/TD]
[/TR]
[TR]
[TD="align: center"]03/02/2022[/TD]
[TD="align: center"]30.30[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]72.26[/TD]
[/TR]
[TR]
[TD="align: center"]02/23/2022[/TD]
[TD="align: center"]44.41[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]47.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]71.64[/TD]
[/TR]
[/TABLE]
 
Too much noise man. The only number that matters is 46.25.

Bottoms will be found at the low readings when all have given up hope. The March 2020 bottom saw multiple weeks below 30, but the only problem with that is if we're starting a bear market we'll see false signals with every bear market rally. According to sentiment, October 2008 had all the signs of exhaustion, yet markets fell for five more months.

VIX closing the week over 30 and most bearish AAII reading in many years both lean towards to bullish. Again, all bets are off if this is a bear market when bearish readings tend to persist. SPX is not down 20% yet, but Nasdaq is down some 22% from the highs indicating a bear market in tech.

Words from Argus Research today.

The NAAIM Exposure Index has dropped to 46% from 83% three weeks ago, the lowest reading since early March (when it fell to 30%). During corrections, a reading under 50% generally will lead to (at least) a counter-trend rally, if not the mark of a key bottom.
Click to expand...
 
Two weeks in a row under 25 which is contrarian bullish, but picking a bottom is anyone's guess. NAAIM hit 11 at the March 2020 low and never looked back until this recent drawdown.
 
Continues to drop
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]05/18/2022[/TD]
[TD="align: center"]19.51[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]87[/TD]
[TD="align: center"]44.74[/TD]
[/TR]
[TR]
[TD="align: center"]05/11/2022[/TD]
[TD="align: center"]24.31[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]4.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.81[/TD]
[/TR]
[TR]
[TD="align: center"]05/04/2022[/TD]
[TD="align: center"]31.76[/TD]
[TD="align: center"]-70[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]72.50[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]45.33[/TD]
[/TR]
[TR]
[TD="align: center"]04/27/2022[/TD]
[TD="align: center"]46.25[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]5.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]73.38[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]69.22[/TD]
[/TR]
[TR]
[TD="align: center"]04/20/2022[/TD]
[TD="align: center"]74.05[/TD]
[TD="align: center"]16[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]93.75[/TD]
[TD="align: center"]112[/TD]
[TD="align: center"]28.88[/TD]
[/TR]
[TR]
[TD="align: center"]04/13/2022[/TD]
[TD="align: center"]63.29[/TD]
[TD="align: center"]-8[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]86.75[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]31.86[/TD]
[/TR]
[TR]
[TD="align: center"]04/06/2022[/TD]
[TD="align: center"]83.41[/TD]
[TD="align: center"]22[/TD]
[TD="align: center"]55.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]98.94[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]40.35[/TD]
[/TR]
[TR]
[TD="align: center"]03/30/2022[/TD]
[TD="align: center"]79.72[/TD]
[TD="align: center"]40[/TD]
[TD="align: center"]62.50[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]105[/TD]
[TD="align: center"]21.67[/TD]
[/TR]
[TR]
[TD="align: center"]03/23/2022[/TD]
[TD="align: center"]52.69[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]70.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]125[/TD]
[TD="align: center"]65.32[/TD]
[/TR]
[TR]
[TD="align: center"]03/16/2022[/TD]
[TD="align: center"]46.68[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.48[/TD]
[/TR]
[/TABLE]
 
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]06/08/2022[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.02[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]93.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]43.01[/TD]
[/TR]
[TR]
[TD="align: center"]06/01/2022[/TD]
[TD="align: center"]34.33[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.88[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]74.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/25/2022[/TD]
[TD="align: center"]33.19[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]13.50[/TD]
[TD="align: center"]66.25[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]35.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/18/2022[/TD]
[TD="align: center"]19.51[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]87[/TD]
[TD="align: center"]44.74[/TD]
[/TR]
[TR]
[TD="align: center"]05/11/2022[/TD]
[TD="align: center"]24.31[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]4.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.81[/TD]
[/TR]
[TR]
[TD="align: center"]05/04/2022[/TD]
[TD="align: center"]31.76[/TD]
[TD="align: center"]-70[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]72.50[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]45.33[/TD]
[/TR]
[TR]
[TD="align: center"]04/27/2022[/TD]
[TD="align: center"]46.25[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]5.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]73.38[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]69.22[/TD]
[/TR]
[TR]
[TD="align: center"]04/20/2022[/TD]
[TD="align: center"]74.05[/TD]
[TD="align: center"]16[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]93.75[/TD]
[TD="align: center"]112[/TD]
[TD="align: center"]28.88[/TD]
[/TR]
[TR]
[TD="align: center"]04/13/2022[/TD]
[TD="align: center"]63.29[/TD]
[TD="align: center"]-8[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]86.75[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]31.86[/TD]
[/TR]
[TR]
[TD="align: center"]04/06/2022[/TD]
[TD="align: center"]83.41[/TD]
[TD="align: center"]22[/TD]
[TD="align: center"]55.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]98.94[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]40.35[/TD]
[/TR]
[/TABLE]
 
Headed to Bear Coutry
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]06/15/2022[/TD]
[TD="align: center"]32.18[/TD]
[TD="align: center"]-22[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]15.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.59[/TD]
[/TR]
[TR]
[TD="align: center"]06/08/2022[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.02[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]93.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]43.01[/TD]
[/TR]
[TR]
[TD="align: center"]06/01/2022[/TD]
[TD="align: center"]34.33[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.88[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]74.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/25/2022[/TD]
[TD="align: center"]33.19[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]13.50[/TD]
[TD="align: center"]66.25[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]35.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/18/2022[/TD]
[TD="align: center"]19.51[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]87[/TD]
[TD="align: center"]44.74[/TD]
[/TR]
[TR]
[TD="align: center"]05/11/2022[/TD]
[TD="align: center"]24.31[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]4.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.81[/TD]
[/TR]
[TR]
[TD="align: center"]05/04/2022[/TD]
[TD="align: center"]31.76[/TD]
[TD="align: center"]-70[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]72.50[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]45.33[/TD]
[/TR]
[TR]
[TD="align: center"]04/27/2022[/TD]
[TD="align: center"]46.25[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]5.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]73.38[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]69.22[/TD]
[/TR]
[TR]
[TD="align: center"]04/20/2022[/TD]
[TD="align: center"]74.05[/TD]
[TD="align: center"]16[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]80.00[/TD]
[TD="align: center"]93.75[/TD]
[TD="align: center"]112[/TD]
[TD="align: center"]28.88[/TD]
[/TR]
[TR]
[TD="align: center"]04/13/2022[/TD]
[TD="align: center"]63.29[/TD]
[TD="align: center"]-8[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]86.75[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]31.86[/TD]
[/TR]
[/TABLE]
 
Rebound?
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]06/29/2022[/TD]
[TD="align: center"]30.66[/TD]
[TD="align: center"]-25[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.78[/TD]
[/TR]
[TR]
[TD="align: center"]06/22/2022[/TD]
[TD="align: center"]19.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.84[/TD]
[/TR]
[TR]
[TD="align: center"]06/15/2022[/TD]
[TD="align: center"]32.18[/TD]
[TD="align: center"]-22[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]15.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.59[/TD]
[/TR]
[TR]
[TD="align: center"]06/08/2022[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.02[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]93.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]43.01[/TD]
[/TR]
[TR]
[TD="align: center"]06/01/2022[/TD]
[TD="align: center"]34.33[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.88[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]74.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/25/2022[/TD]
[TD="align: center"]33.19[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]13.50[/TD]
[TD="align: center"]66.25[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]35.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/18/2022[/TD]
[TD="align: center"]19.51[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]87[/TD]
[TD="align: center"]44.74[/TD]
[/TR]
[TR]
[TD="align: center"]05/11/2022[/TD]
[TD="align: center"]24.31[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]4.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.81[/TD]
[/TR]
[TR]
[TD="align: center"]05/04/2022[/TD]
[TD="align: center"]31.76[/TD]
[TD="align: center"]-70[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]72.50[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]45.33[/TD]
[/TR]
[TR]
[TD="align: center"]04/27/2022[/TD]
[TD="align: center"]46.25[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]5.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]73.38[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]69.22[/TD]
[/TR]
[/TABLE]
 
Slight dip
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]07/06/2022[/TD]
[TD="align: center"]27.85[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]62.05[/TD]
[/TR]
[TR]
[TD="align: center"]06/29/2022[/TD]
[TD="align: center"]30.66[/TD]
[TD="align: center"]-25[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.78[/TD]
[/TR]
[TR]
[TD="align: center"]06/22/2022[/TD]
[TD="align: center"]19.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.84[/TD]
[/TR]
[TR]
[TD="align: center"]06/15/2022[/TD]
[TD="align: center"]32.18[/TD]
[TD="align: center"]-22[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]15.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.59[/TD]
[/TR]
[TR]
[TD="align: center"]06/08/2022[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.02[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]93.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]43.01[/TD]
[/TR]
[TR]
[TD="align: center"]06/01/2022[/TD]
[TD="align: center"]34.33[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.88[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]74.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/25/2022[/TD]
[TD="align: center"]33.19[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]13.50[/TD]
[TD="align: center"]66.25[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]35.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/18/2022[/TD]
[TD="align: center"]19.51[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]87[/TD]
[TD="align: center"]44.74[/TD]
[/TR]
[TR]
[TD="align: center"]05/11/2022[/TD]
[TD="align: center"]24.31[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]4.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.81[/TD]
[/TR]
[TR]
[TD="align: center"]05/04/2022[/TD]
[TD="align: center"]31.76[/TD]
[TD="align: center"]-70[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]72.50[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]45.33[/TD]
[/TR]
[/TABLE]
 
More of the same...
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]07/13/2022[/TD]
[TD="align: center"]26.74[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.93[/TD]
[/TR]
[TR]
[TD="align: center"]07/06/2022[/TD]
[TD="align: center"]27.85[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]62.05[/TD]
[/TR]
[TR]
[TD="align: center"]06/29/2022[/TD]
[TD="align: center"]30.66[/TD]
[TD="align: center"]-25[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.78[/TD]
[/TR]
[TR]
[TD="align: center"]06/22/2022[/TD]
[TD="align: center"]19.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.84[/TD]
[/TR]
[TR]
[TD="align: center"]06/15/2022[/TD]
[TD="align: center"]32.18[/TD]
[TD="align: center"]-22[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]15.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.59[/TD]
[/TR]
[TR]
[TD="align: center"]06/08/2022[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.02[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]93.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]43.01[/TD]
[/TR]
[TR]
[TD="align: center"]06/01/2022[/TD]
[TD="align: center"]34.33[/TD]
[TD="align: center"]-200[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]85.88[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]74.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/25/2022[/TD]
[TD="align: center"]33.19[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]13.50[/TD]
[TD="align: center"]66.25[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]35.08[/TD]
[/TR]
[TR]
[TD="align: center"]05/18/2022[/TD]
[TD="align: center"]19.51[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]87[/TD]
[TD="align: center"]44.74[/TD]
[/TR]
[TR]
[TD="align: center"]05/11/2022[/TD]
[TD="align: center"]24.31[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]4.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.81[/TD]
[/TR]
[/TABLE]
 
Pretty sizable jump in NAAIM to the more bullish side:
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]08/10/2022[/TD]
[TD="align: center"]71.59[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.63[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.24[/TD]
[/TR]
[TR]
[TD="align: center"]08/03/2022[/TD]
[TD="align: center"]55.28[/TD]
[TD="align: center"]-10[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]95.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]53.21[/TD]
[/TR]
[TR]
[TD="align: center"]07/27/2022[/TD]
[TD="align: center"]47.21[/TD]
[TD="align: center"]-7[/TD]
[TD="align: center"]4.06[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]82.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.16[/TD]
[/TR]
[TR]
[TD="align: center"]07/20/2022[/TD]
[TD="align: center"]44.48[/TD]
[TD="align: center"]-53[/TD]
[TD="align: center"]2.19[/TD]
[TD="align: center"]45.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.59[/TD]
[/TR]
[TR]
[TD="align: center"]07/13/2022[/TD]
[TD="align: center"]26.74[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.93[/TD]
[/TR]
[TR]
[TD="align: center"]07/06/2022[/TD]
[TD="align: center"]27.85[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]62.05[/TD]
[/TR]
[TR]
[TD="align: center"]06/29/2022[/TD]
[TD="align: center"]30.66[/TD]
[TD="align: center"]-25[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.78[/TD]
[/TR]
[TR]
[TD="align: center"]06/22/2022[/TD]
[TD="align: center"]19.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.84[/TD]
[/TR]
[TR]
[TD="align: center"]06/15/2022[/TD]
[TD="align: center"]32.18[/TD]
[TD="align: center"]-22[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]15.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.59[/TD]
[/TR]
[TR]
[TD="align: center"]06/08/2022[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]0[/TD]
[TD="align: center"]0.02[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]93.00[/TD]
[TD="align: center"]100[/TD]
[TD="align: center"]43.01[/TD]
[/TR]
[/TABLE]
 
A quant investor backtested trading strategies using NAAIM. Interesting article.

We downloaded the data from NAAIM’s website and performed several backtests, both with different variables and lengths.

Our conclusion is that it’s very hard to find anything that is worthwhile, and there are many more contrarian indicators that are better, for example, the VIX indicator that has given us a few good VIX trading strategies.
Click to expand...

https://www.quantifiedstrategies.com/naaim-strategy/
 
More bearish this week
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]08/24/2022[/TD]
[TD="align: center"]54.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]92.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.70[/TD]
[/TR]
[TR]
[TD="align: center"]08/17/2022[/TD]
[TD="align: center"]64.44[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.27[/TD]
[/TR]
[TR]
[TD="align: center"]08/10/2022[/TD]
[TD="align: center"]71.59[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.63[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.24[/TD]
[/TR]
[TR]
[TD="align: center"]08/03/2022[/TD]
[TD="align: center"]55.28[/TD]
[TD="align: center"]-10[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]95.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]53.21[/TD]
[/TR]
[TR]
[TD="align: center"]07/27/2022[/TD]
[TD="align: center"]47.21[/TD]
[TD="align: center"]-7[/TD]
[TD="align: center"]4.06[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]82.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.16[/TD]
[/TR]
[TR]
[TD="align: center"]07/20/2022[/TD]
[TD="align: center"]44.48[/TD]
[TD="align: center"]-53[/TD]
[TD="align: center"]2.19[/TD]
[TD="align: center"]45.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.59[/TD]
[/TR]
[TR]
[TD="align: center"]07/13/2022[/TD]
[TD="align: center"]26.74[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.93[/TD]
[/TR]
[TR]
[TD="align: center"]07/06/2022[/TD]
[TD="align: center"]27.85[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]62.05[/TD]
[/TR]
[TR]
[TD="align: center"]06/29/2022[/TD]
[TD="align: center"]30.66[/TD]
[TD="align: center"]-25[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.78[/TD]
[/TR]
[TR]
[TD="align: center"]06/22/2022[/TD]
[TD="align: center"]19.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.84[/TD]
[/TR]
[/TABLE]
 
Continuing to lessen the bullish positions:
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]08/31/2022[/TD]
[TD="align: center"]32.36[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]56.25[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.43[/TD]
[/TR]
[TR]
[TD="align: center"]08/24/2022[/TD]
[TD="align: center"]54.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]92.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.70[/TD]
[/TR]
[TR]
[TD="align: center"]08/17/2022[/TD]
[TD="align: center"]64.44[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.27[/TD]
[/TR]
[TR]
[TD="align: center"]08/10/2022[/TD]
[TD="align: center"]71.59[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.63[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.24[/TD]
[/TR]
[TR]
[TD="align: center"]08/03/2022[/TD]
[TD="align: center"]55.28[/TD]
[TD="align: center"]-10[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]95.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]53.21[/TD]
[/TR]
[TR]
[TD="align: center"]07/27/2022[/TD]
[TD="align: center"]47.21[/TD]
[TD="align: center"]-7[/TD]
[TD="align: center"]4.06[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]82.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.16[/TD]
[/TR]
[TR]
[TD="align: center"]07/20/2022[/TD]
[TD="align: center"]44.48[/TD]
[TD="align: center"]-53[/TD]
[TD="align: center"]2.19[/TD]
[TD="align: center"]45.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.59[/TD]
[/TR]
[TR]
[TD="align: center"]07/13/2022[/TD]
[TD="align: center"]26.74[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.93[/TD]
[/TR]
[TR]
[TD="align: center"]07/06/2022[/TD]
[TD="align: center"]27.85[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]62.05[/TD]
[/TR]
[TR]
[TD="align: center"]06/29/2022[/TD]
[TD="align: center"]30.66[/TD]
[TD="align: center"]-25[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]1.25[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]51.78[/TD]
[/TR]
[/TABLE]
 
The NAAIM exposure is in sync with the market.... Interesting! :scratchchin:... Makes sense... I guess when it starts climbing, that is just another indicator to jump in and vice versa.. Can't rely just on that, but when in doubt this at least gives or doesn't give support to thoughts on entry/exit. I like it! :D.

Thanks for posting Flalaw! :banana:
 
A significant drop (29.59 down to 12.61). Hasn't been this bearish since 3/18/2020. Since inception, NAAIM has been below 15 only 27 weeks, 18 of those weeks were in 2008. Otherwise, 1 week in 2020, 1 week in 2014, two weeks in 2011, one in 2010 and three in 2009. Not sure what to do with that information but will look at it. What Coolhand said about the bears being really bearish (-150) seems to be the strongest indicator to me that we may be in solid Bear country for a while.

[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]09/28/2022[/TD]
[TD="align: center"]12.61[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]9.63[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]66.88[/TD]
[/TR]
[TR]
[TD="align: center"]09/21/2022[/TD]
[TD="align: center"]29.59[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]54.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.97[/TD]
[/TR]
[TR]
[TD="align: center"]09/14/2022[/TD]
[TD="align: center"]33.86[/TD]
[TD="align: center"]-122[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]77.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]70.46[/TD]
[/TR]
[TR]
[TD="align: center"]09/07/2022[/TD]
[TD="align: center"]27.33[/TD]
[TD="align: center"]-122[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]31.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.04[/TD]
[/TR]
[TR]
[TD="align: center"]08/31/2022[/TD]
[TD="align: center"]32.36[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]56.25[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.43[/TD]
[/TR]
[TR]
[TD="align: center"]08/24/2022[/TD]
[TD="align: center"]54.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]92.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.70[/TD]
[/TR]
[TR]
[TD="align: center"]08/17/2022[/TD]
[TD="align: center"]64.44[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.27[/TD]
[/TR]
[TR]
[TD="align: center"]08/10/2022[/TD]
[TD="align: center"]71.59[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.63[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.24[/TD]
[/TR]
[TR]
[TD="align: center"]08/03/2022[/TD]
[TD="align: center"]55.28[/TD]
[TD="align: center"]-10[/TD]
[TD="align: center"]10.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]95.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]53.21[/TD]
[/TR]
[TR]
[TD="align: center"]07/27/2022[/TD]
[TD="align: center"]47.21[/TD]
[TD="align: center"]-7[/TD]
[TD="align: center"]4.06[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]82.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]50.16[/TD]
[/TR]
[/TABLE]
 
Another significant dip after a brief bump up.

[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]10/12/2022[/TD]
[TD="align: center"]19.84[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]5.00[/TD]
[TD="align: center"]47.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.65[/TD]
[/TR]
[TR]
[TD="align: center"]10/05/2022[/TD]
[TD="align: center"]38.11[/TD]
[TD="align: center"]-80[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.96[/TD]
[/TR]
[TR]
[TD="align: center"]09/28/2022[/TD]
[TD="align: center"]12.61[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]9.63[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]66.88[/TD]
[/TR]
[TR]
[TD="align: center"]09/21/2022[/TD]
[TD="align: center"]29.59[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]54.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.97[/TD]
[/TR]
[TR]
[TD="align: center"]09/14/2022[/TD]
[TD="align: center"]33.86[/TD]
[TD="align: center"]-122[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]77.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]70.46[/TD]
[/TR]
[TR]
[TD="align: center"]09/07/2022[/TD]
[TD="align: center"]27.33[/TD]
[TD="align: center"]-122[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]31.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.04[/TD]
[/TR]
[TR]
[TD="align: center"]08/31/2022[/TD]
[TD="align: center"]32.36[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]56.25[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.43[/TD]
[/TR]
[TR]
[TD="align: center"]08/24/2022[/TD]
[TD="align: center"]54.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]92.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.70[/TD]
[/TR]
[TR]
[TD="align: center"]08/17/2022[/TD]
[TD="align: center"]64.44[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.27[/TD]
[/TR]
[TR]
[TD="align: center"]08/10/2022[/TD]
[TD="align: center"]71.59[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.63[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.24[/TD]
[/TR]
[/TABLE]
 
And rebound
[TABLE="class: widefat page fixed, width: 520"]
[TR]
[TD="align: center"]Date[/TD]
[TD="class: naaimaverage, align: center"]NAAIM Number Mean/Average[/TD]
[TD="align: center"]Bearish[/TD]
[TD="align: center"]Quart1[/TD]
[TD="align: center"]Quart2[/TD]
[TD="align: center"]Quart3[/TD]
[TD="align: center"]Bullish[/TD]
[TD="align: center"]Deviation[/TD]
[/TR]
[TR]
[TD="align: center"]10/19/2022[/TD]
[TD="align: center"]43.28[/TD]
[TD="align: center"]-40[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]42.00[/TD]
[TD="align: center"]65.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]55.43[/TD]
[/TR]
[TR]
[TD="align: center"]10/12/2022[/TD]
[TD="align: center"]19.84[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]5.00[/TD]
[TD="align: center"]47.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.65[/TD]
[/TR]
[TR]
[TD="align: center"]10/05/2022[/TD]
[TD="align: center"]38.11[/TD]
[TD="align: center"]-80[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]75.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]58.96[/TD]
[/TR]
[TR]
[TD="align: center"]09/28/2022[/TD]
[TD="align: center"]12.61[/TD]
[TD="align: center"]-150[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]9.63[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]66.88[/TD]
[/TR]
[TR]
[TD="align: center"]09/21/2022[/TD]
[TD="align: center"]29.59[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]54.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.97[/TD]
[/TR]
[TR]
[TD="align: center"]09/14/2022[/TD]
[TD="align: center"]33.86[/TD]
[TD="align: center"]-122[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]40.00[/TD]
[TD="align: center"]77.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]70.46[/TD]
[/TR]
[TR]
[TD="align: center"]09/07/2022[/TD]
[TD="align: center"]27.33[/TD]
[TD="align: center"]-122[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]31.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.04[/TD]
[/TR]
[TR]
[TD="align: center"]08/31/2022[/TD]
[TD="align: center"]32.36[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]0.00[/TD]
[TD="align: center"]30.00[/TD]
[TD="align: center"]56.25[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]60.43[/TD]
[/TR]
[TR]
[TD="align: center"]08/24/2022[/TD]
[TD="align: center"]54.86[/TD]
[TD="align: center"]-100[/TD]
[TD="align: center"]20.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]92.50[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]59.70[/TD]
[/TR]
[TR]
[TD="align: center"]08/17/2022[/TD]
[TD="align: center"]64.44[/TD]
[TD="align: center"]-50[/TD]
[TD="align: center"]35.00[/TD]
[TD="align: center"]50.00[/TD]
[TD="align: center"]100.00[/TD]
[TD="align: center"]200[/TD]
[TD="align: center"]54.27[/TD]
[/TR]
[/TABLE]
 
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