Pessimism among individual investors about the short-term direction of stock prices rose to nearly 40%, while at the same time, optimism fell below 30%.
Pessimism is above its historical average for 11 of the last 12 weeks, while optimism is below its historical average for the same amount of time.
Bullish sentiment, expectations that stock prices will rise over the next six months, fell 1.9 percentage points to 28.3%. This is the 11th time out of the last 12 weeks that optimism is at or below its historical average of 38.5%.
Bearish sentiment, expectations that stock prices will fall over the next six months, rose 2.2 percentage points to 39.6%. The increase keeps pessimism at or above its historical average of 30.5% for the eighth consecutive week and the 11th out of the last 12 weeks.