Bullish Sentiment Increases From Multi-Year Lows

In spite of the fact that the S&P 500 is down more than 1% in the last week, individual investors turned more optimistic, or perhaps less pessimistic, in the latest week.  After dropping to a multi-year low of 22% last week, the percentage of bullish investors in the American Association of Individual Investors (AAII) weekly sentiment poll rose to 28.1%.  Although this is an increase, we would note that going back to 2009, the average weekly bullish reading has been 38.0%, so investors still remain stuck in hibernation.

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