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Another week, another reading where bulls failed to take the majority in the latest poll of individual investor sentiment from AAII. Bullish sentiment increased from 44.6% up to 45.6% this week, representing the fourth straight week where bullish sentiment moved less than two percentage points. To put that in perspective, the average weekly change in bullish sentiment during the current bull market has been +/-5 percentage points. With bullish sentiment coming in under 50% once again, it has now been below this level for two full years!
Bulls may have only seen a slight increase in their ranks, but bearish sentiment declined more than 3 percentage points for the second straight week, falling from 29.15% down to 25.74%, as the neutral camp increased to 28.7%.