The Bull-Bear Ratio climbed for the second week to 1.94 this week—the highest reading since the January 4 week last year—after falling the prior two weeks from 1.83 to 1.38 (chart). Bullish sentiment increased for the second week, jumping to 48.6% this week, equaling the end-of-January peak, which was the highest since the end of 2021. Bulls outnumbered bears for the 20th consecutive week. Bearish sentiment fell for the second week to 25.0% this week, after a two-week climb from 24.7% (the fewest bears since January 2022) to 28.8%. Recent readings are well below the 44.1% reading in early October of last year. The correction count dropped 6.0 ppts this week—from 32.4% to 26.4%—remaining well below its late September 2022 peak of 40.3%.
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