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The S&P 500 could have rebounded since this time final week, however sentiment has continued its slide. This week’s AAII Sentiment Survey noticed solely 32.1% of respondents report as bullish, the bottom share since 11/2/23.
In complete, bullish sentiment has declined 17.9 share factors since simply 4 weeks in the past, when it hit 50%. That’s the largest drop since December 2021 for any given four-week span.
Given the drop in bulls, bears have picked as much as 34%. Nonetheless, that studying was little modified week-over-week, with a modest 0.1 share level enhance. Like bulls, that is the very best bearish sentiment studying since final November.
Though the rise in bearish sentiment has been much less pronounced, the inverse strikes with bullish sentiment have been sufficient to push the bull-bear unfold into detrimental territory for the primary time since 11/3.
The 24 consecutive weeks with a constructive bull-bear unfold was one of many longest streaks within the survey’s historical past, and was tied with the 24-week streak that led to July 2021 for the longest since 2015 (31 weeks). In all, there have solely been 11 streaks that lasted at the least 20 weeks in a row.
Editor’s Observe: The abstract bullets for this text have been chosen by Looking for Alpha editors.
