Last week's American Association of Individual Investors' (AAII) survey of investor sentiment showed that bearishness among this group is back above 50%. As of June 12th, the percentage of bullish investors came in at 31.25%, 53.58% were bearish, and 15.18% were neutral. This week's bearish reading was the 11th time in the last year that negative sentiment based on this survey exceeded 50%. The only other time since this survey began in 1987 that bearish sentiment reached these levels this many times in a one-year period was back in 1990-1991, when there were 14 weekly readings of bearish sentiment above 50%.
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