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There's nothing like higher stock prices to cure investor blues. According to the American Association of Individual Investors (AAII), bullish sentiment increased by 5.1 percentage points this week from 35.82 to 40.93, which is the highest level since the end of August.

Over the last two weeks, bullish sentiment has increased by 12.1 percentage points, which is the largest two-week increase since Jan. 5. Based on the last two weeks, it appears as though investors are more optimistic that lawmakers in Washington will come to an agreement regarding the fiscal cliff.

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Source: Bullish Sentiment Jumps To 3-Month High