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Bullish Sentiment Rises to Highest Level Since August

Individual investors sure seem to have picked a bad time to turn more bullish given the market's performance yesterday.  According to the American Association of Individual Investors (AAII), bullish sentiment rose to 38.5% this week, bringing this indicator back above the average reading for the current bull market (38.2%).  This week's reading for bullish sentiment is also the highest level since late August.  Additionally, in the last two weeks alone, bullish sentiment has increased 9.25 percentage points, which is the largest two week increase for all of 2012!

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