In contrast, “bearish sentiment, expectations that stock prices will fall over the next six months, fell 2.2 percentage points to 28.8%. This was the third consecutive decline in pessimism, which is now at a seven-week low. The historical average is 30%,” Rotblut adds.
Furthermore, the Investor’s Intelligence survey revealed that investors’ bullish sentiments have jumped 5.7% to 57.3% this week alone.
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Max Chen contributed to this article.