After two weeks of peeking above 40%, bullish sentiment pulled back sharply this week. According to the weekly survey from AAII, bullish sentiment pulled in from 40.14% last week to 33.33%. That’s the largest one-week decline since mid-May. At the risk of sounding like a broken record, bullish sentiment has now been below 50% for a record 143 straight weeks.
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While bullish sentiment pulled back, bearish sentiment barely increased as it rose from 27.2% up to just 28.7%. Thie big increase this week came in neutral sentiment where the undecideds rose from 32.7% up to 37.9%, which is the highest level since late July.