After the largest one-week decline in bullish sentiment in over a year last week, investors stepped away from the ledge this week and became a bit less pessimistic. In the latest sentiment figures from AAII, bullish sentiment rebounded from 23.9% up to 32.9% this week. While the bounce erased all of last week’s decline, it is still notable that less than one-third of investors polled in this survey consider themselves bullish, even with the S&P 500 at all-time highs. Further, it’s been a record 125 weeks now since the bulls were last in the majority.
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Bearish sentiment, meanwhile, dropped slightly more than it increased last week, falling from 34.25% down to 30%. After trending higher since late 2016, bearish sentiment looks like it may have finally broken that uptrend in the last few weeks.
Finally, after surging back above 40% for the first time this year last week, neutral sentiment drifted back below 40% to a level of 37.14%.