Stocks gave back some of the sharp gains seen in the previous session.
The latest American Association of Individual Investors survey shows— the first time in more than 1,800 weekly readings going back to 1987 that bearish sentiment topped 60% for two weeks running. Last week's bearish reading stood at 60.9%, but two weeks ago it was only 46%.
Contrarians look at all that favorably, arguing that it means fewer sellers are left to push prices lower and the market's washed out.
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