Traders Hate Tesla and Apple


2022 is starting off on a tough note for stocks, with the S&P 500 dropping -2.2% and growth stocks getting smashed across the board.

And our latest sentiment survey reflects the trouble, with traders turning bearish almost across the board... and yes, that includes Tesla (TSLA) and Apple (AAPL).

SPX Bulls Disappear

January tends to be a good month for stocks, but the tough action has traders VERY skeptical.

Just 33% of survey respondents are bullish on the SPX for the next 30 days -- the lowest reading since we started this survey in October 2021.

Bitcoin Sentiment Still Weak

Last week, just 37% of traders were bullish on Bitcoin. And while that number rose to 44% this week, it's still pretty low. 

Apple Sentiment Hits Record Low

Market leader Apple (AAPL) is facing a lot of doubters. Just 37% of traders are bullish on the stock for the next 30 days, which is by far the weakest reading in our history. 

Tesla Is HATED

Sentiment towards Tesla (TSLA) also hit a record low, with just 32% of survey respondents expecting the stock to rise in the next 30 days.

Gold Bullishness Slipping But Still Elevated

Gold sentiment fell slightly week-over-week but it is still elevated relative to most assets in our survey.

Oil Sentiment Flattish

Oil prices and energy stocks have been ripping in 2022, so it's no surprise traders remain optimistic on oil, with 69% expecting the price of oil to rise in the next 30 days.

The Big Question: Does Negative Sentiment Mean We Are Bottoming Out?

While we've only been running this survey since October 2021, it's clear that traders are spooked.

Even tried and true market leaders like Apple (AAPL) and Tesla (TSLA) are facing major doubts.

And it seems like traders only trust energy, which is no surprise given that crude oil is up 11% year-to-date, with XLE up 24% and OIH up 16%.

So the big question now is does the negativity mean we are bottoming out?

It's tough to say -- but if you're looking for guidance in this touch market, you can check out this special Sami Abusaad deal.

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