It was a sell-everything week for the stock market. Once again it was the commentary from Fed Chair Powell, not any action, that accelerated the selling. The prior week’s negative market reversal in reaction to the ECB comments after it hiked rates set the tone for the market last week.
That did not help investor sentiment as the bullish % from the American Association of Individual Investors declined to 31.3% while over 68% are either neutral or negative on the stock market for the next six months. AAII noted that Optimism on Stocks at a 16-week Low.
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