Although the American Association of Individual Investors sentiment survey reported a drop in bullish sentiment (35.71% vs. 42.66%) this week, the 8-period moving average continues to trend higher. This 8-period average of the bullish sentiment came in at 29.2% this week versus last week's reading of 27.4%.
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Data Source: American Association of Individual Investors
In addition to the improving trend in bullish sentiment, investors seem to be putting their feelings into action. The Investment Company Institute reports money market cash levels have declined to $3.834 trillion for the period ending April 1, 2009 versus the March 4, 2009 level of $3,903 trillion.