Pessimism among individual investors about the short-term direction of stock prices rose to nearly 40%, while at the same time, optimism fell below 30%.
Pessimism is above its historical average for 11 of the last 12 weeks, while optimism is below its historical average for the same amount of time.
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Bullish sentiment, expectations that stock prices will rise over the next six months, fell 1.9 percentage points to 28.3%. This is the 11th time out of the last 12 weeks that optimism is at or below its historical average of 38.5%.
Bearish sentiment, expectations that stock prices will fall over the next six months, rose 2.2 percentage points to 39.6%. The increase keeps pessimism at or above its historical average of 30.5% for the eighth consecutive week and the 11th out of the last 12 weeks.