AAII Sentiment Survey results are out for this week. After four weeks of grinding sideways in “No Man’s Land” Bullishness is now up OVER the 40 level – which usually marks market reversals. Bearishness has collapsed.
In the S&P500 chart above I have noted those dates in the recent past where Sentiment was at similar levels (Bullishness ~40, Bearishness <30). You can follow along with the red circles on the sentiment results below.