Market sentiment: “Courageous private investors”

Professional investors react to the capricious prices by withdrawing and private investors by buying shares. Goldberg believes that the latter had shown significantly more skill beforehand.

Despite strong jumps in both directions, to which the two investor groups surveyed reacted very differently, the DAX is at the previous week’s level. Professional investors have moved out of both long and short positions. Your sentiment index is now +5 points. According to Joachim Goldberg, the bulls have drawn stop-loss limits and the bears have taken profits. On the other hand, 7 percent of private investors have invested in stocks and 11 percent have left short exposures. The sentiment index of this group soared to +17 points. According to the behavioral economist, they would have acted more skillfully than their professional colleagues.

Goldberg rates the mood of both groups in relation to the previous months as uncritical. On the upper side, he expects selling pressure from 13,150 / 13,200 points and on the underside, there is still no protective demand potential. From a domestic point of view, some demand from the institutional side can be expected at best at 12,500 / 12,550.

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