Despite a back and forth market over the last few days, individual investors have managed to show slightly more bullishness than last week.  According to the weekly survey from AAII, bullish sentiment increased this week from 36.68% up to 38.56%.  That’s the third straight weekly increase, and also marks a higher high in bullish sentiment versus the mid-April high.  So just as technicians were celebrating the higher high in the S&P 500 two weeks ago, this week’s “sentiment-icians” can celebrate a higher high in bullish sentiment.

Interestingly, right along with the increase in bullish sentiment, bearish sentiment also ticked higher from last week’s extremely low levels.  In this week’s survey, investors considering themselves bearish rose from a 19-week low of 20.58% up to 25.16%.

Rather than being more bearish or bullish this week, investors were just a little more decisive, and that’s reflected in the fact that neutral sentiment fell from a high reading of 42.74% down to 36.27%.

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