Friday, July 27, 2007

Bullish Sentiment Continues Higher

This past week, the American Association of Individual Investors reported that bullish sentiment rose to 44.21% versus last week's reading of 41.77%. The 8-period moving average continues to trend higher as well: 41.7% versus last week's 40.3%. The 44.21% bullish reading was the highest level for this measurement since the April 19, 2007 reading of 46.94%. Not so ironically, bullish investors were rewarded with a 4.2% decline in the Dow index this week.

(click on graph for larger image)

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