Following up yesterday's post on bullish sentiment from the AAII survey, the chart below shows bearish sentiment based on the same weekly survey. In this week's survey, bearish sentiment dropped to 17.16% which is the lowest level since December 2010. This week's level is no doubt on the low side, but as some have suggested it is hardly one of the lowest readings ever. In fact, going back to 1987 there have been more than 100 weekly readings where bearish sentiment was below the current level.
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