It's the lowest level since a 30.45% reading for the week ended August 3 and well below the long-term average of 39%. The AAII has about 150,000 members but doesn't disclose how many participate in its survey each week.
Bearishness swelled to 38.8%, a jump of 5.8 percentage points and the highest level since a reading of 43.1% for the week ended July 26. The neutral camp came in at 30.6%.
Thursday was a pretty disappointing day for stocks with the Dow Jones Industrial Average reversing course and dropping more than 100 points from its session high to close at the low. Apple (AAPL) resumed its recent decline, falling 2% to close at its lowest level since Aug. 10, while the Nasdaq has now retreated nearly 5% from its intraday high for the year. Yes, the S&P 500 eked out a miniscule gain to break a four-day losing streak, but that's not much of a consolation prize.
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