Bullish sentiment is back down this week to 33.2% as the percentage of individual investors reporting as bulls fell just over 4% from last week’s 37.3%. Optimism has now declined 8.4 percentage points from the recent high in late February. While still not at any sort of extreme levels, this most recent reading does sit on the lower end of the range from the past few weeks.
All of the declines in bullish sentiment seem to have predominately gone to the negative camp as bearish sentiment rose this week to 27.2% from 23.4% last week. Similar to bullish sentiment, bearish sentiment has yet to reach any sort of extreme readings.
The same cannot necessarily be said for neutral sentiment. As price action has somewhat plateaued around current levels, an increasing amount of investors predict the market to remain here for the coming months. At 39.6% this week and just off of the recent high of 39.82% from last month, neutral sentiment has remained the most popular opinion among investors for three weeks in a row now. These levels are approaching an extreme too as they sit just under 1 standard deviation above the historical average.