FYI: The S&P 500 and Dow have continued to make pushes up to new all-time highs in the past week but sentiment remains subdued. AAII's weekly sentiment survey showed 33.61% of respondents have bullish sentiment, up 0.5% from last week. As we have been mentioning, this is in the lower range of sentiment readings given the run-up to new highs. At this level, bullish sentiment is in the 15th percentile of times that the S&P 500 has reached a new all-time high in the past week. Additionally, the current reading is still below the historical average for bullish sentiment as it has been for nine straight weeks now. That is the longest such streak since the 12-week streak ending May 17th of last year.