Excess Bullish Sentiment Waning

Last week we showed the AAII allocation survey.

Several readers pointed out that the Bullish Sentiment Survey was “heating up” and approaching uncomfortable levels. And as  I noted this morning, rising bullish sentiment is one of our major concerns.

The latest numbers show bullish sentiment decreasing — which is a comfort as high bullish readings tend to correlate will with corrections.

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AAII Bullish Sentiment Survey

click for larger chart

Courtesy of FusionIQ

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