According to the American Association of Individual Investors, the four-week moving average of bullish investor sentiment is at it’s lowest level in over a year, yet the S&P 500 and the Dow remain just a whisker below new 5-year bull market highs?
Here’s the chart, shared by Ryan Detrick:
AAII bulls 4-week MA lowest level in a year. Guess they had a lot of momo names in their portfolio. http://stks.co/h0amW
— Ryan Detrick (@RyanDetrick) May. 8 at 09:52 AM
If you wanted a more clearer picture of how dumbfounded professional investors are in this environment, look no further than this.
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