Bullish Sentiment Rises In Past Week

The AAII Sentiment Survey was just released for the past week, and it showed that Bullish sentiment jumped in the past week, at the expense of Bearish sentiment, despite the equity markets dropping for a 6th straight week.

Bullish sentiment jumped 4.6% to 29.0%, while Neutral sentiment rose 0.3% to 28.3%. Bearish sentiment fell the most, dropping 4.9% to 42.8%.

Bearish sentiment is still well above its long-term average of 30%. Bullish sentiment is also well below its long-term average of 39%. Neutral sentiment is slightly below its long-term average of 31%.

Futures are lower in pre-market trading, with Dow futures off 43 points, S&P 500 futures off 4 points, and NASDAQ futures are off 5.5 points.