Even with the increase, pessimism stayed below its historical average of 30% for the second consecutive week.
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Though this is a four-week high for pessimism, pessimism is below its historical average for the 16th time in the past 18 weeks.
Pessimism has been below its historical average for 10 out of the last 12 weeks.
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This is the third consecutive week that pessimism has been above its historical average of 30%.
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It is also the first time pessimism has been above its historical average of 30% since September.
This was the first time in four weeks that pessimism has been above its historical average of 30%.
This is the 24th time in 27 weeks that pessimism has been above its historical average of 30%.
This is the 18th time in the past 21 weeks that pessimism has been below its historical average of 30%.
This is the 14th time in the last 16 weeks that pessimism has been below its historical average of 30%.
Though there were big changes in bullish and bearish sentiment, both optimism and pessimism are close to their historical averages.
This was the 19th time in the past 22 weeks that pessimism has been below its historical average of 30%.
This was the 20th time in the past 23 weeks that pessimism has been below its historical average of 30%.
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This is the seventh time in the past eight weeks that pessimism has been above its historical average of 30%.
The level of pessimism is high from a historical perspective.
Prechter cites a lack of demonstrable pessimism, valuations that remain high by historical standards and an incomplete wave pattern down from market highs.
Pessimism is more than one standard deviation above its historical average, which makes it unusual, but not extraordinary.
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Bearish sentiment is at unusually high levels, but not so high that it would be considered extraordinarily high. (In statistical terms, pessimism is less than two standard deviations away from its historical average.) The sharp increase comes as the market has pulled back, some large-cap stocks have declined notably over the past several weeks and uncertainty about the fiscal cliff looms.
Though pessimism is at a five-week high, it is merely about even with its historical average of 30%.
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