Although the S&P 500 is poised to trade at or near record highs this morning, individual investors actually turned moderately more cautious in the latest week.
According to the weekly survey from the American Association of Individual Investors (AAII), bullish sentiment declined from 45.1% down to 35.6%. This represents the largest weekly decline since May 30th. This week's decline also represents the third straight week where bullish sentiment declined. The last time that occurred was in early April.