In spite of a 1.7% gain in the S&P 500 last week, and a positive bias for equities this week, individual investor enthusiasm for equities only saw a modest increase this week.  According to the weekly survey from the American Association of Individual Investors (AAII), bullish sentiment rose from 28.7% up to 32.07%.  This is now the sixth straight week where bullish sentiment has been below the bull market average of 38.7%, which is the longest streak since last August.  The S&P 500 has been flirting with its bull market highs for the last several days now, and it appears as though until it gets above that level, investor sentiment is going to be held in check.

AAII Bullish and Bearish 041615
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