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21-07-2023, 07:06 AM
Individual investor enthusiasm for stocks climbed to 51.4% in the latest weekly survey by the American Association of Individual Investors, up from 41.0% bullishness last week, and the seventh straight week bullish sentiment landed above its long-term historical average of 37.5%.
The latest week’s optimism was the highest since April 2021, when it stood at 52.7%. Similiarly, the seven-week above average score was the longest stretch of unabashed optimism since February-May of 2021.
Conversely, bearish opinion that stocks will fall in price over the next six months dropped to 21.5%, the lowest since June 2021, from 25.9% last week, and the seventh week in a row bearishness was below its historical average of 31.0%. The seven-week stretch is the longest since a 23-week streak that lasted from February to July of 2021.
Bearish sentiment “is nearing the bottom of its typical range,” the AAII said. The past year’s high in bearishness came last September, when 60.9% of investors thought the future outlook for stocks was grim — less than one month before the bear market bottom.
Neutral opinion narrowed to 27.1% of investors polled in the latest week vs 33.1% last week.
— Scott Schnipper
The latest week’s optimism was the highest since April 2021, when it stood at 52.7%. Similiarly, the seven-week above average score was the longest stretch of unabashed optimism since February-May of 2021.
Conversely, bearish opinion that stocks will fall in price over the next six months dropped to 21.5%, the lowest since June 2021, from 25.9% last week, and the seventh week in a row bearishness was below its historical average of 31.0%. The seven-week stretch is the longest since a 23-week streak that lasted from February to July of 2021.
Bearish sentiment “is nearing the bottom of its typical range,” the AAII said. The past year’s high in bearishness came last September, when 60.9% of investors thought the future outlook for stocks was grim — less than one month before the bear market bottom.
Neutral opinion narrowed to 27.1% of investors polled in the latest week vs 33.1% last week.
— Scott Schnipper
