Based on the weekly bullish sentiment readings from AAII, investor sentiment has been downright miserable for the last couple of years. This week, however, sentiment saw a pretty nice bounce. According to the survey, bullish sentiment increased from 28.24% up to 35.48% – the highest since the first week of May. Granted, sentiment hasn’t topped 50% in more than two years, but you have to start somewhere.
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While bullish sentiment perked up, take a look at bearish sentiment breaking down. In this week’s survey, the percentage of investors calling themselves bearish dropped from 29.63% to 25.81%. This year, the only other time where bearish sentiment was lower was the first week of January.
Neutral sentiment dropped below 40% but still remains elevated at 38.71%.