Despite a positive start to equities in the New Year, bullish sentiment among individual investors still can’t get over the hump. In this week’s sentiment survey from AAII, bullish sentiment increased from 45.57% up to 46.20%. This makes it 105 straight weeks where bullish sentiment has been below 50% – the second longest streak in the history of the survey (back to 1987).
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The reality is that sentiment on the bullish side really hasn’t moved much in either direction over the last six weeks. In fact, with a range of just over three percentage points in the last six weeks, bullish sentiment has been in the narrowest range since 1995 and the second narrowest six-week range on record.