July 2, 2010: Neutral sentiment rises through June

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June was a flat month for stocks, with the Wilshire 5000 losing 5.7% during the month. There were up days and down days throughout the month, but the end result was basically a draw. The AAII Sentiment Survey reflected this neutrality as neutral sentiment rose from 22.1% on June 3 to 33.3% on July 1. Bullish sentiment barely moved most of the month, falling slightly from 37.1% on June 3 to 34.5% on June 24, only to close the month with a dramatic drop in the last week to 24.7%.

The market saw some wild swings during the months of April and May. The turbulence of the last few months may have worn investors out. Or perhaps the summer sunshine and heat has lured investors away from their computers and a constant connection to the market's daily dramas. After all the ups and downs the market experienced in the spring, the relative flatness of June may be a welcome reprieve for some investors.

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