The market and jobless claims have gone sideways, so it only seems fitting that sentiment has started to flat-line as well. In the latest sentiment survey from the American Association of Individual Investors (AAII), bullish sentiment saw a modest increase from 29.79% up to 31.29%, and right back where it was two weeks ago (31.25%). This now makes it 41 straight weeks where bullish sentiment has been below 40%, which is the longest streak on record.
The change in bearish sentiment this week was even smaller than bullish sentiment. After falling to a level of 26.77% last week, bearish sentiment declined this week to a level of…wait for it now, 26.76%, or 0.01%!