sentix Survey results (34-2025)

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Written by Manfred Hübner | 24 August 2025
Posted in sentix Weekly

The bull market in equities is not spreading to sentiment

The stock markets, led by the US markets, have so far defied their seasonal pattern in a remarkable way. There are no signs of a summer slump as yet. However, investors remain cautious. The price gains are not translating into investor sentiment. In our view, this is cautionary investor behavior. The outlook for gold and silver, on the other hand, is better.

Further results

  • Gold: Stable underlying confidence is positive
  • EUR-JPY: High overconfidence, as in 2007
  • sentix investor positioning in equities, bonds and others assets

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sentix Survey results (33-2025)

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Written by Manfred Hübner | 17 August 2025
Posted in sentix Weekly

All-time highs in equities have little impact on equities

Despite new all-time highs, sentiment among US equities is rising only slightly. The market is unable to “shake off” investors' concerns. While US data (AAII) tends to show polarization (neutrality declining), we are measuring high investor irritation (neutrality rising). The sentix data therefore points to rising volatility. In conjunction with weak market breadth and the still weak seasonal window, we therefore remain rather defensive on equities.

Further results

  • Gold: TD Index remains a source of support
  • EUR-JPY: High overconfidence slows the rise
  • sentix Styles - Investor preferences & behavior

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sentix Survey results (32-2025)

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Written by Patrick Hussy | 10 August 2025
Posted in sentix Weekly

Calming the mood in the hope of peace

After the bearish sentiment extreme in the previous week, there has been a countermovement in equities. This was favoured by hopes of peace in Ukraine. Whether an agreement can be reached is questionable. Sentiment therefore remains slightly negative. By contrast, the medium-term equity bias is stable. There is therefore much to suggest a quiet week for equities. Precious metals are also likely to be exciting: The bias has made an advance with a high for the year. This means that there is a need to catch up in terms of positioning behaviour.

Further results

  • Equities: Investors give Switzerland a wide berth
  • Precious metals: New annual highs in the bias of gold & silver
  • sentix sector sentiment

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sentix Survey results (31-2025)

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Written by Patrick Hussy | 03 August 2025
Posted in sentix Weekly

Concerns about customs agreement for EU shares

What was already apparent for Japan and continued in the bias this week is now also becoming visible for Europe: the markets are taking a very differentiated view of the renegotiated customs deal between the US and the EU. This can be seen in the medium-term bias, which is tipping in favour of euro equities. Share sentiment also plummeted by a full 29 percentage points to -38 percentage points. A negative sentiment impulse is on the cards, especially as the seasonal pattern is currently turning negative. The situation is more constructive for US equities. Medium-term confidence is rising somewhat here.

Further results

  • Equities: US equities with a better setup
  • FX: Instis and private individuals at odds, new impetus needed
  • sentix economic index: Monday 04th August 2025 at 10:30 CEST

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sentix Survey results (30-2025)

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Written by Patrick Hussy | 27 July 2025
Posted in sentix Weekly

Equities: No euphoria, signs of fatigue in the bias

Basic confidence in the equity market is crumbling, while investors are trying to get through the hot summer months with neutral ratios (Instis) or overinvestments (private investors). In the meantime, the risks for US equities - especially for the Nasdaq - have increased significantly. The crude oil complex is also striking, with neutrality rising to its highest level since November 2019. Although investors are gaining confidence in the medium term, positioning is falling. The tension indicates a volatility impulse in black gold.

Further results

  • Crude oil: Volatility in black gold indicated
  • Japanese equities: Customs deal not a game changer
  • sentix investor positioning in equities, bonds and others assets

Click here for the full report

 

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