FYI: Since its recent low on December 24th, the S&P 500 has seen a significant rally that, while slowing in its momentum as it closes in on resistance, has held up in the past week. But optimism, as seen through the AAII individual investor survey, has cooled as these resistance levels are reached. Bullish sentiment fell this week to 33.5% after hitting the highest level since early November last week (38.5%). The decline this week brings bullish sentiment back below the historic average but still well above lows hit in mid-December.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/resistance-causes-hesitation-in-sentiment/
