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Given the upcoming holiday weekend and individual investors focusing their attention on other things, it is little surprise that sentiment was little changed in the latest week. According to the weekly survey from AAII, bullish sentiment declined from 44.66% down to 44.61%. At 0.05%, you can’t get much of a smaller decline than that. While the move was insignificant, the level certainly was, as it represents the 103rd straight week where bulls have not been in the majority.
While bullish sentiment was little changed, bearish sentiment saw a relatively larger move. In this week’s survey, the percentage of pessimists dropped from 32.33% down to 29.15%.