FYI: With equities pulling back in May, investor sentiment has held a bearish bias over the past few weeks. Last week's rally has reversed this build-up of bearish sentiment to a small degree as the percentage of investors reporting as bulls in this week's AAII survey grew to 26.84% from 22.53% last week. While this is an improvement, investors have been hesitant to rush back as bullish sentiment remains low relative to history. This week's reading is still over one standard deviation below the historical average of 38.19%. This is a bit of a contrast to the Investors Intelligence survey of newsletter writers, which saw bulls come surging back with the largest increase in the number of respondents reporting as bullish since the first weeks of 2019.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/bulls-slowly-return
