sentix ASR Essentials 39-2015

Written by Patrick Hussy | 27 September 2015
Posted in sentix Weekly

Equities unloved; but Going for Gold

While the latest sentix survey suggests investors have become a little less pessimistic on the near-term outlook for equity markets, survey readings based on investors’ views on equities from a medium-term strategic perspective continue to weaken. At the same time, monthly questions on positioning revealed that levels of over-investment in equities have fallen below longer-term average levels. A high degree of caution remains the dominant survey theme on global equities. In contrast, investors are warming to Gold, with near-term sentiment and mediumterm strategic bias readings pulling further away from their mid-summer lows. Caution on equities may be bolstering investor sentiment towards Gold (Charts 3-4).

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Equities – really without any alternative?

Written by Julien Mueller | 21 September 2015
Posted in Special research

The latest sentix data set reveals: investors commit in an increasingly strong manner to European equities despite a weakening in economic outlooks and market turbulences. For instance, they increase their investment horizon at a level never seen before. It shows the extreme conditioning of market participants regarding stocks as an investment without any alternative. This is a risk!

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sentix Investmentmeinung 38-2015

Written by Patrick Hussy | 21 September 2015
Posted in sentix Weekly

Alibi-Pessimismus

Abermals messen wir in unseren Daten, dass die Anleger Respekt vor den anstehenden 4 Wochen haben (Sentiment bei -25 Prozentpunkten), aber mittelfristig ungebrochen den (europäischen) Aktien die Treue halten (Strategischer Bias bei +28 Prozentpunkte). Daran kann auch eine charttechnisch besorgniserregende Entwicklung zum Wochenausklang nichts ändern: Immerhin lösen nahezu alle Indizes ihre Flaggen-Konsolidierungen, die als Reaktion auf das August-Tief ausgebildet wurden, nach unten auf. Ins gleiche Horn stößt auch der Styles-Index „Anlagehorizont in Aktien“, der einen neuen Rekordstand vermeldet.

Geänderte Einschätzungen: diverse Aktienmärkte

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sentix ASR Essentials 38-2015

Written by Manfred Hübner | 20 September 2015
Posted in sentix Weekly

Equities really without alternatives in the medium-term?

At first glance investors’ expectations have barely changed. But this means that the inconsistent behavioural pattern remains intact – and continues to sound a note of caution. We particularly dislike that investors – as before – do not allow for the much worse price behaviour and instead prefer to sit out the correction. Positive news come from the gold market where a new basic conviction builds up.

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New sector sentiment data

Written by Manfred Hübner | 17 September 2015
Posted in Database news

sentix expanded its range of information on European equity sectors with information about the dispersion of the sector assessments. Under dispersion, we understand the spread of the sector assessments. To this end, we calculate the difference between the most positive and the most negative assessment based on the sentix sector sentiment values. The greater this difference, the more the sector estimates are scattered. We then speak of great dispersion. An extremely high or low dispersion may be a signal for a trend reversal constellation on overall market level. In particular, a very high dispersion may be an indication of a structural market  break.

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