Bullish sentiment on the part of individual investors saw a slight uptick this week, but with the S&P 500 up for seven straight days, that was to be expected. What is a bit surprising is the fact that barely more than a third of investors consider themselves bullish at this point. According to the weekly survey from AAII, bullish sentiment increased to 35.6%, and for those keeping score at home, it is the 144th straight week where bulls have been out of the majority.
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Even more surprising than the small increase in bullish sentiment following seven straight up days was the relatively large increase in bearish sentiment which increased from 28.7% up to 32.8%.
With bullish and bearish sentiment both on the increase, neutral sentiment fell from 37.9% down to 31.6%, and that’s the lowest level since April.