The Weekly Update 3/27/2026™

In the chart below The American Association of Individual Investors (AAII), sentiment chart hit 52% last week, significantly above the 38 year average.  This measures investors who expect lower stock prices over the next six months.

Observe that before the current reading of 52% negative 6-month outlook, the blue line, there have only been, maybe eight other events that caused investors in Corporate America, as measured by the S&P 500, to be this negative in the outlook.

Those are:

• The 1987 Crash
• The Collapse of 1500 Banks and S&Ls in the 90’s Recession
• The Tech Bubble Bear of 2003
• The Great Recession of 2008-2009
• China’s Devaluation
• The China Tariff War 2019
• The 2022 Bear Market Bottom
• Tariff Day Panic 2025
• Today

Guess what happened after every single one of those negative events?

Yup, another all-time high.  I suspect this one will be no different and in my opinion, it won’t take as long as many think.

I did not say market valuations go straight up, and I did not say without volatility, yet the data flow suggests the good old USA has a very bright outlook.  Think “Five Year Money” (Read it Here).

As always, I am interested in your thoughts, comments, and questions.

Respectfully,

James O. Lunney, CFP®

CERTIFIED FINANCIAL PLANNER™ Professional  

*The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.  Investing involves risk. Loss, including loss of principal, may occur. No strategy assures success or protects against loss. All performance referenced is historical and is no guarantee of future results.  All indices are unmanaged and may not be invested into directly.

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