After five straight weeks of increases where bullish sentiment among individual investors rose to its highest levels since March, many individual investors scurried for shelter this week. According to the American Association of Individual Investors (AAII), bullish sentiment dropped by nearly eight percentage points to 34.27%. What makes this week's drop even more noteworthy is that it came ahead of today's decline in equities. In fact, the drop occurred during a week where the S&P 500 dropped a grand total of three points! The fact that investors turned less bullish just because the S&P 500 failed to keep going up provides just another example of how investors remain skittish and have little conviction in equities as an investment.
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