Summary
Rising to 40.3% from 33.98% last week, the percentage of bullish investors rose to the highest level since early May when it was 43.13%.
Bullish sentiment has also moved back above its historical average of 38.08% for the first time since August 1st.
After reaching its recent high of 44% last month, bearish sentiment has fallen all the way down to 23.93%.
Fresh all-time highs in the major indices have finally boosted investor confidence as per AAII data. Rising to 40.3% from 33.98% last week, the percentage of bullish investors rose to the highest level since early May when it was 43.13%. The past four weeks have seen bullish sentiment surge by just under 20 percentage points off of the low of 20.31% in early October. The last time that optimism has risen as rapidly in a four-week span was from December of 2017 to January of 2018 when it rose 22.9 percentage points. At that time, sentiment reached much more extreme levels, topping out at 59.75%.
Bullish sentiment has also moved back above its historical average of 38.08% for the first time since August 1st. For most of this year, bullish sentiment has remained fairly subdued. With only a couple of months left in the year, only 9 weeks in 2019 have seen bullish sentiment readings above the historical average. In the history of the survey, only 2016, 1988, and 1987 saw fewer weeks with above-average bullish readings.
Given the bullish surge, bearishness has unwinded. After reaching its recent high of 44% last month, bearish sentiment has fallen all the way down to 23.93%. That is the lowest reading since May. As with bullish sentiment, the move over the past four weeks has been substantial. In fact, the 20.03 percentage point decline is the largest since March of 2016 when bearishness dropped 24.32 percentage points.
Bulls not only took from bears this week, but neutral sentiment also fell down to 35.77%. Unlike bullish and bearish sentiment, that move was much smaller at only 1.82 percentage points as neutral sentiment is now right back to similar levels as last month.
![saupload_110719-AAII-Neutral.png]()
Original post
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
Summary
Rising to 40.3% from 33.98% last week, the percentage of bullish investors rose to the highest level since early May when it was 43.13%.
看涨投资者的比例从上周的33.98%升至40.3%，达到5月初以来的最高水平，当时为43.13%。
Bullish sentiment has also moved back above its historical average of 38.08% for the first time since August 1st.
看涨情绪也回落到38.08%的历史平均水平之上，这是自8月1日以来的第一次。
After reaching its recent high of 44% last month, bearish sentiment has fallen all the way down to 23.93%.
在上个月达到44%的近期高点后，看跌情绪一路下滑至23.93%。
Fresh all-time highs in the major indices have finally boosted investor confidence as per AAII data. Rising to 40.3% from 33.98% last week, the percentage of bullish investors rose to the highest level since early May when it was 43.13%. The past four weeks have seen bullish sentiment surge by just under 20 percentage points off of the low of 20.31% in early October. The last time that optimism has risen as rapidly in a four-week span was from December of 2017 to January of 2018 when it rose 22.9 percentage points. At that time, sentiment reached much more extreme levels, topping out at 59.75%.
主要股指再创历史新高，终于提振了投资者信心所有数据。看涨投资者的比例从上周的33.98%升至40.3%，达到5月初以来的最高水平，当时为43.13%。过去四周，看涨情绪从10月初20.31%的低点飙升了不到20个百分点。上一次乐观情绪在四周时间内快速上升是在2017年12月至2018年1月，当时上升了22.9个百分点。当时，人气达到了更极端的水平，最高达到59.75%。
Bullish sentiment has also moved back above its historical average of 38.08% for the first time since August 1st. For most of this year, bullish sentiment has remained fairly subdued. With only a couple of months left in the year, only 9 weeks in 2019 have seen bullish sentiment readings above the historical average. In the history of the survey, only 2016, 1988, and 1987 saw fewer weeks with above-average bullish readings.
看涨情绪也回升至38.08%的历史平均水平之上，这是自8月1日以来的首次ST好的。在今年的大部分时间里，看涨情绪仍然相当低迷。在今年只剩下几个月的时候，2019年只有9周出现了高于历史平均水平的看涨情绪。在调查的历史上，只有2016、1988和1987周的乐观读数高于平均水平。
Given the bullish surge, bearishness has unwinded. After reaching its recent high of 44% last month, bearish sentiment has fallen all the way down to 23.93%. That is the lowest reading since May. As with bullish sentiment, the move over the past four weeks has been substantial. In fact, the 20.03 percentage point decline is the largest since March of 2016 when bearishness dropped 24.32 percentage points.
考虑到看涨的浪潮，看跌情绪已经平息。在上个月达到44%的近期高点后，看跌情绪一路下滑至23.93%。这是5月份以来的最低读数。与看涨情绪一样，过去四周的波动幅度很大。事实上，20.03个百分点的降幅是自2016年3月以来的最大降幅，当时看跌情绪下降了24.32个百分点。
Bulls not only took from bears this week, but neutral sentiment also fell down to 35.77%. Unlike bullish and bearish sentiment, that move was much smaller at only 1.82 percentage points as neutral sentiment is now right back to similar levels as last month.
本周，多头不仅从空头那里获利，而且中性情绪也跌至35.77%。与看涨和看空情绪不同，这一变动幅度小得多，仅为1.82个百分点，因为中性情绪现在刚刚回到与上月类似的水平。
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
编者按：本文的摘要项目符号是通过寻找Alpha编辑来选择的。
