Although the S&P 500 has risen 2.35% over the past week and is now within 2% of its all time high on February 19th, sentiment saw little changes this week. In AAII’s weekly survey, only 23.29% of investors reported as bullish on the direction of stocks over the next six months. That is up roughly 3 percentage points from last week’s reading of 20.23% which was the lowest reading on bullish sentiment since May of 2016.
Meanwhile, bearish sentiment also moderated slightly falling to 47.6% from 48.47%. Although lower week over week, that is still 17 percentage points above its historical average, and it has been more than one standard deviation above that average for 20 of the past 22 weeks.
Neutral sentiment was also slightly lower this week down from 31.3% to 29.11%. Click here to view Bespoke’s premium membership options for our best research available.