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A little volatility in the markets has sure sent bulls running for the exits - again! According the American Association of Individual Investors (AAII), bullish sentiment declined to 29.5% from last week's reading of 36.0%. After reaching a short term peak of 49% two weeks ago, bullish sentiment has now declined by 19.5 percentage points in just the last two weeks. That decline represents the largest two-week decline of the entire bull market dating back to March 2009.

Once again, investors were slow to hop on the bullish bandwagon, but they quickly jumped off at the first hint of trouble. The phrase "climbing a wall of worry" has never been more appropriate than during this bull market. It's just amazing to see bullish sentiment so low with the market so close to an all-time high.

(click to enlarge)

Source: Bullish Sentiment Falls Again