The market continued its late-year run, driving market indexes such as the S&P 500 near two-year highs. The S&P 500 has now gone seven consecutive weeks without a loss, which, in turn, has fueled investor optimism. In fact, bullishness among AAII members reached a high for 2010 on December 23, 2010, at 63.3%, which was also the highest reading since 2004. In addition, the spread between bullish and bearish sentiment has been above 20% for the last seven weeks and also reached its 2010 maximum on December 23, 2010, at 46.9%.

Results as of January 6, 2011:

Bullish: 55.9%

Neutral: 25.9%

Bearish: 18.3%

To participate in the AAII Sentiment Survey, or to view historical survey results, click on the link below:

https://www.aaii.com/sentimentsurvey

Long-Term Average and Extreme Values

Bullish:

Average: 39.0%, Max: 75.0% (1/6/2000), Min: 12.0% (11/16/1990)

Neutral:

Average: 30.7%, Max: 62.0% (6/3/1988), Min: 7.7% (10/9/2008)

Bearish:

Average: 30.3%, Max: 70.3% (3/5/2009), Min: 6.0% (8/21/1987)