Bullish sentiment on the part of individual investors saw a slight uptick this week, but with the S&P 500 up for seven straight days, that was to be expected. What is a bit surprising is the fact that barely more than a third of investors consider themselves bullish at this point. According to the weekly survey from AAII, bullish sentiment increased to 35.6%, and for those keeping score at home, it is the 144th straight week where bulls have been out of the majority.
Even more surprising than the small increase in bullish sentiment following seven straight up days was the relatively large increase in bearish sentiment which increased from 28.7% up to 32.8%.
With bullish and bearish sentiment both on the increase, neutral sentiment fell from 37.9% down to 31.6%, and that’s the lowest level since April.