In a period where the DJIA hasn’t traded higher in a single day since the last release of sentiment data, individuals turned a little more bullish this week. We would note, however, that this increase comes on the heels of last week’s plunge in bullish sentiment. According to the weekly survey from the American Association of Individual Investors (AAII), bullish sentiment increased from 21.11% up to 24.32%. Even after the increase, though, bullish sentiment remains well below its average of 38% for the current bull market; a level it hasn’t been above for 19 weeks now.
While bullish sentiment saw just a modest increase, bearish sentiment saw the largest weekly decline in a month falling from a two-year high of 40.7% down to 31.66%. Most of those former bears, however, moved into the neutral camp. After dipping below 40% for the first time in 16 weeks last week, neutral sentiment moved back up above 40% threshold to 44.03%.