Bullish Sentiment On A Roller Coaster

The often volatile contrarian individual investor bullish sentiment reading does not surprise this week. The American Association of Individual Investors reported bullish sentiment jumped to 44.71% versus last week's bullishness reading of 31.25%. In an effort to smooth out this volatility from week to week, the below chart contains the 8-period moving average of the bullish indicator. This indicator also saw an increase to 44.1% versus 43.3% in the prior week.

(click on table for larger image)

Data Source: American Association of Individual Investors