This week’s sentiment survey from AAII showed an increase in bullish sentiment back near 40% and back near the recent high of 41.29% from mid-September. While 40% is hardly an extreme reading by any stretch of the imagination, this year there have only been four weeks where bullish sentiment actually topped 40%. With 40% being hard enough, an actual majority is a long way off, and that should keep the current streak of 145 straight weeks below 50% safe for the foreseeable future.
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As you might expect, bearish sentiment declined this week, falling from 32.8% down to 26.9%. That’s the lowest reading in five weeks and sixth lowest weekly print in bearish sentiment this year.