Well not exactly. However, individual investors have been turning increasingly bearish for the last month now. According to the weekly survey from the American Association of Individual Investors (AAII), bullish sentiment declined by 4.8 percentage points to 34.4% this week, while bearish sentiment rose to 29.5% from 27.5% last week. This jump represents the fourth straight week where bearish sentiment increased. It is also worth noting that even though the S&P 500 remains right near all-time highs, bullish sentiment is actually more than four percentage points below its average for the current bull market.