Bullish Sentiment Increases Slightly

In the American Association of Individual Investors sentiment survey release this week, bullish investor sentiment moved higher by a small amount. The bullish sentiment level increased to 46.30% versus last week's reading of 45.16%. Conversely, bearish investor sentiment increased to 34.26% versus 29.68% last week. One result was a narrowing of the bull/bear spread to 12% from 15%. It should be noted the 8-period moving average of the bullish sentiment level continues to move higher for the ninth consecutive week.

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Data Source: American Association of Individual Investors