(SMII)®  dropped just one point to –14 as the  Spectrem Affluent Investor Index (SAII)® rose 7 points, crossing the Millionaire Index for the first time in the indices history.

In a surprising turn, all investment vehicles are up, including Cash. Not Investing fell for the first time in three months, as all affluent investors quietly reentered the market. Stocks and Real Estate rose fairly sharply, buoyed largely by a 12 point and 8 point rise with Affluent respondents. 

The Affluent are more positive about their economic future, while Millionaires remained pessimistic.  This is the first time in the Spectrem Indices that Millionaires have been more cynical than the Affluent and is particularly foreboding, because the Millionaires tend to lead their affluent peers when it comes to economic sentiment. Affluent investors, who could only be paying attention to short-term market movements, may be in for a rude awakening in the coming months, if the American economy cannot recover.

Reflecting the recent rise in the stock market and the Dow pushing above 13000 for the first time in a month and a half, Affluent investors are more hopeful that the economy is building up steam. This difference in investment strategy reflects the difference in overall economic sentiment shown this month in the Spectrem Indices, with the Affluent reporting much more positive than their Millionaire cousins.

The Spectrem Household Outlook dropped for the second straight month to a new low (-6.9). Despite a  selective return to the market, all Affluent Household Outlook components fell. The biggest drop was in Household Income, which fell from 13.6 to 7.6 (-6 pts). 

Millionaire pessimism was the primary downward force on the Household Outlook this month, with their overall outlook down 11 points, household outlook down 16 points, and economic sentiment down a massive 20 points.

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