Bullish Sentiment Remains Sub Par

From Bespoke:

This week’s sentiment survey from the American Association of Individual Investors (AAII) showed that bullish sentiment increased from 24.32% up to 30.45%.  So even as volatility increased, bullish sentiment saw its largest weekly increase since late June.  At current levels, however, bullish sentiment has now been below its bull market average of 38.1% for 20 straight weeks, which is the longest streak of below average readings in the current bull market.  On top of that, bullish sentiment has also been below 40% for 24 straight weeks.  The last time that happened was all the way back in 1994.

AAII-Bullish-081315

Bearish sentiment, meanwhile, remains elevated.  In this week’s survey, bearish sentiment also increased up to 36.15% from last week’s level of 31.66%.  While bearish sentiment remains below its recent high of 40.7% two weeks ago, the trend has clearly been higher since the start of 2015.

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