FYI: The AAII weekly sentiment survey remains biased towards a bearish outlook this week, though, bullish sentiment saw a small increase. 24.79% of respondents reported bullish sentiment this week. This small increase was not enough to bring it back into its historical range as it is still over 1 standard deviation from the historical average as shown in the second chart below. As we highlighted last week, these more extreme readings can actually be taken as a good sign for equities, but that is looking at when bearish and neutral remain in their normal ranges. That is no longer the case this week.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/bearish-sentiment-grows
