FYI: The survey of individual investor sentiment from AAII showed slightly more optimism this week with bullish sentiment coming in at just under 25%. That is a 4% jump from last week’s plunge to 20.9% taking equally from the bearish and neutral camp. Even with this increase, the results are not overly optimistic as bullish sentiment is still the minority opinion and at much lower than average levels. Last week’s reading was historically low, so it isn’t surprising that there was a small bounce. This week’s reading is also a divergence from price action in that time. On top of yesterday’s steep declines, markets have been broadly down since the last report alongside it being one of the worst Decembers to date, so an uptick—even a small one—is a bit of a surprise. If the current pace of market weakness continues, don’t expect the sentiment boost to last very long.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/bulls-come-back-for-now/
