Individual investors are the most bullish they have been in eight months, according to the latest survey by the American Association of Individual Investors, which some market watchers might view as a warning of a potential near-term pullback. The AAII said 40.4% of those surveyed expect the stock market to be up over the next six months, up from 34.8% a week ago, and the highest percentage since the week ending Feb. 26. The survey also said the percentage of those who were bearish dropped to 20.6% from 24%, also to the lowest level since Feb. 26. The S&P 500 fell as much as 3.5% in two weeks following the Feb. 26 survey results. Many Wall Street professionals see individual investors, or the retail crowd, as the last visitors to any market party, so they often view retail sentiment as a contrarian indicator.
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From:: Stock Market News