The AAII sentiment survey – an informal gauge of short term bullish/bearish/neutral sentiment amongst individual investors – has hit a 13-month high, with 50.89% of investors describing themselves as bullish.
While not an extreme reading, it is worth noting, as this is one more data point that may indicate we’re in for at least a short term fall. The AAII survey on August 26th – the day before the current rally started – counted just 20.89% bulls, the lowest reading since March 2009.
You can take a look at past sentiment survey results from the AAII here.
(Data source: AAII)