Based on the latest weekly sentiment data from AAII, it appears that investors are growing increasingly concerned about the market as bullish sentiment declined from an already low 34.17% down to 28.1%.  That’s the lowest weekly reading since June 1st right before the volatility in the FANG stocks really got going and the largest weekly decline since mid-May.  This week’s reading also extends the record streak of weeks below 50% up to 138 weeks!

Bearish sentiment has seen an even more pronounced move, rising from 32.8% up to 38.29%.  That’s the largest reading for the bearish camp since mid-April.  Also outside of a few weeks in the Spring where bearish sentiment spiked higher, you have to go all the way back to early 2016 to find a period where bearish sentiment was higher.

While individuals are increasingly bearish, one-third of investors still can’t make up their mind.  While that may sound like a lot, it is actually down considerably from the 40%+ levels it was at just a few weeks ago.

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