AAII Investor Sentiment - Week Ending 1/12

This week's sentiment survey is still in the historically high levels for % bullish at 52.3% (prior week was 55.90%).  It is also still historically low for % bearish at 23.4% (prior week was 18.30%).

I have two graphs below showing correlations with the SPX

Chart 1 -  SPX Versus % Bullish

This chart has correlated very well and simply looking at the correlation and the % bullish (green line) it really looks like the SPX is due for a pullback.

Chart 2 - This is the spread between the % bullish and % bearish.  Similar to chart 1 it too looks like the SPX is due for a pullback.

AAII Investor Sentiment - Week Ending 1/12