Bullish Sentiment Drops

Given the fact that the S&P 500 is on pace for its sixth straight down day in a row, it is not surprising that bullish sentiment among individual investors dropped in the latest week.  Based on the weekly survey from the American Association of Individual Investors (AAII), bullish sentiment dropped from 32.64% down to 30.2%.  While this level is still above levels we saw during the month of June, the little uptrend in bullish sentiment that we have seen in the last eight weeks is coming perilously close to being broken to the downside.

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