Over the past month, investor bullish sentiment has continued to trend lower as measured by the 8-period moving average of the bullish sentiment reading. Last week's bullishness reading of 35.09% feel below the long term average of 38.94% as reported by the American Association of Individual Investors. Additionally, last week's reading was nearly 8.5 percentage points lower than the bullishness reading in the prior week. The bull/bear spread was -6% versus +8% last week.
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