The misery of 2022 has continued when it comes to investor sentiment.  In the latest weekly AAII poll, bullish sentiment declined from 24.3% down to 20.3%.  That’s the lowest reading since the end of September and less than five points above the YTD low of 15.8% from mid-April.

As shown in the chart above, there hasn’t been a single week this year where bullish sentiment has been above its historical average of 37.6%, and the only week where sentiment was even close to its historical average was at the start of the year.  With just one week left in the year, barring a historic one-week surge, 2022 will go down as the first year in the history of the AAII survey where there wasn’t a single week that bullish sentiment was above average. Talk about malaise.  Click here to learn more about Bespoke’s premium stock market research service.