Retail Investors Remain Cautious
American Association of Individual Investors (AAII) retail-focused weekly investor survey edges less bearish:
AAII Bulls (those who see higher stock prices in 6 mths, blue line) edged up to 37.8% from 36.9% the prior week, moving back above the long-term historical average of 37.5% after a week below.
Bulls, though, remained below the level of the Bears (who see lower stock prices in 6 mths, red line), even as the Bears fell to 41.4%, the least in three weeks, from 45.8% the prior week (and further below the 53.3% six weeks ago, the highest since May 2025).
That leaves Bulls above Bears just twice in the last 15 weeks. Bears also remain above the long-term average of 31.0% for a 37th straight week (and they’ve only been below it 9 weeks since Dec 12, 2024).
The Neutral camp (yellow line) rose to 20.7%, the most in three weeks, from 17.3% (which was the least since early April). It remains under the long-run average of 31.5% and has been over that only twice since July 2024.
