The sentiment data reported this week by the American Association of Individual Investors and Investors Intelligence is somewhat conflicting. The individual investor bullish sentiment as reported by AAII shows bullish sentiment rose to 36.75% versus last week's reading of 29.23%. Most of the increase in bullish sentiment came from those investors that were neutral last week. The neutral reading fell over six percentage points. On the other hand, the Investor Intelligence results show:
"bullish sentiment among newsletter writers is currently at 34.1%, which is the lowest level since March 2009. At the same time, bearish sentiment (26.1%) is the highest since November, while the percentage of newsletter writers in the correction camp has sky-rocketed all the way to 39.8%, which is a level that hasn't been seen since 1983," as reported by Bespoke Investment Group.
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