In the American Association of Individual Investors sentiment survey released today, bullish sentiment moved slightly higher. On the other hand, investor bearishness increased to a level last seen in early 2003. The bearish sentiment this week was reported at 56.12%. This is the highest level since February 20, 2003 when the level of bearishness equaled 57.9%. This sentiment indicator tends to be a contrary one and the market performance since that time seems to support this.
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