Today's individual investor sentiment survey released by the American Association of Individual Investors noted a 15 point increase in investor bearish sentiment. This survey measures investors' six month forward expectations for the market. Additionally, the bullish sentiment fell to 20.9% and is two points above the bullish sentiment reached in the week of March 5, 2009. Since this is a contrarian indicator, the low bullishness level is one technical measure that would be a positive sign for a future move higher in the market. This week's current gain of 4+% is certainly confirmation of this potential outcome.
|From The Blog of HORAN Capital Advisors|