Summary
Bullish investor sentiment improved 6.3 percentage points to 40.3% from the prior week's reported level as noted by the American Association of Individual Investors.
Individual investor sentiment is certainly reacting positively to the upward trend in the equity markets.
Yet the current bullishness level only falls in the middle of a range of plus or minus one standard deviation of the average bullishness level.
Bullish investor sentiment improved 6.3 percentage points to 40.3% from the prior week's reported level as noted by the American Association of Individual Investors. This is the highest bullishness level since the May 9 reading of 43.1%. Individual investor sentiment is certainly reacting positively to the upward trend in the equity markets, yet the current bullishness level only falls in the middle of a range of plus or minus one standard deviation of the average bullishness level. Due to the fact the weekly readings can be volatile, one should evaluate a moving average of the bullishness level, and in this case, the eight-period moving average. This eight-period average remains at a low 31.2%.
The jump higher in the bullishness level is also impacting the bull/bear spread which equals 16.4 in this week's reading. The long-term average for the bull/bear spread is 5.3 percentage points.
The sentiment measures are contrarian ones and tend to be most actionable at their extremes. With this noted, the current bullish sentiment level is not at an extreme; however, investors will want to keep an eye on individual investor sentiment as the recent equity market move seems to be having a favorable impact on individual investors.
Original post
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
Summary
Bullish investor sentiment improved 6.3 percentage points to 40.3% from the prior week's reported level as noted by the American Association of Individual Investors.
美国个人投资者协会(American Association Of Personal Investors)指出，看涨的投资者情绪比前一周报告的水平提高了6.3个百分点，达到40.3%。
Individual investor sentiment is certainly reacting positively to the upward trend in the equity markets.
个人投资者的情绪肯定对股市的上升趋势做出了积极的反应。
Yet the current bullishness level only falls in the middle of a range of plus or minus one standard deviation of the average bullishness level.
然而，目前的看涨水平仅落在平均看涨水平的正负一个标准差区间的中间。
Bullish investor sentiment improved 6.3 percentage points to 40.3% from the prior week's reported level as noted by the American Association of Individual Investors. This is the highest bullishness level since the May 9 reading of 43.1%. Individual investor sentiment is certainly reacting positively to the upward trend in the equity markets, yet the current bullishness level only falls in the middle of a range of plus or minus one standard deviation of the average bullishness level. Due to the fact the weekly readings can be volatile, one should evaluate a moving average of the bullishness level, and in this case, the eight-period moving average. This eight-period average remains at a low 31.2%.
看涨的投资者情绪比前一周报告的水平提高了6.3个百分点，达到40.3%，这是由美国个人投资者协会。这是5月9日读数43.1%以来的最高看涨水平。个人投资者情绪肯定对股市的上升趋势做出了积极反应，但目前的看涨水平只落在平均看涨水平的正负一个标准差的中间。由于周度读数可能会波动，人们应该评估看涨水平的移动平均线，在这种情况下，是8期移动平均线。这八个时期的均值维持在31.2%的低位。
The jump higher in the bullishness level is also impacting the bull/bear spread which equals 16.4 in this week's reading. The long-term average for the bull/bear spread is 5.3 percentage points.
看涨水平的上升也影响了牛熊价差，在本周的读数中，牛熊价差等于16.4。牛/熊价差的长期平均值为5.3个百分点。
The sentiment measures are contrarian ones and tend to be most actionable at their extremes. With this noted, the current bullish sentiment level is not at an extreme; however, investors will want to keep an eye on individual investor sentiment as the recent equity market move seems to be having a favorable impact on individual investors.
情绪指标是反向的，在极端情况下往往最具可操作性。有了这一点，目前的看涨情绪水平并不是极端的；然而，投资者将希望密切关注个人投资者的情绪，因为最近的股市走势似乎对个人投资者产生了有利的影响。
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由寻求Alpha编辑选择的。
