Investor sentiment from the American Association of Individual Investors (AAII) was released earlier today and showed that bullish sentiment increased for the second straight week to 31.1%. That's the highest reading since late April. What's noteworthy about this increase is that ever since Brexit, bullish sentiment has increased. True, there is still a way to go before this measure even gets back to average levels, as bullish sentiment has been below 40% for 36 straight weeks. Unlike many in the investment community, the 'little guy' definitely doesn't appear to be freaking out about Brexit.
While bullish sentiment increased, bearish sentiment saw an even larger decline in magnitude. From last week's level of 33.42%, bearish sentiment declined to 26.7%, making this the largest weekly decline since February.