Investors have officially become convinced that stocks do not decline. Sentiment readings are literally off the charts this week with the AAII small investor bullish sentiment survey surging 9% to 57.6%. That’s the highest reading since January 2007. Charles Rotblut of AAII is reporting that 60% would be a two standard deviation event.
This week’s Investor’s Intelligence survey also saw a large increase in bullishness to 48.6%. This is the highest reading since May 6th, but is also 8 points shy of the high recorded on April 28th.
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