Bears' Winning Streak Might Be Good News for U.S. Stocks
The S&P may be about to snap its long run of declines.
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After flirting with record highs only last week, the S&P 500 is on course to fall for a sixth day straight.
Although the bears are gaining momentum, the equity index's longest streak of losses in 10 months may be signaling a turnaround for U.S. stocks, according to Bespoke Investment Group, even while bullish sentiment spends its 33rd week languishing below 40 percent.
According to the most recent survey by the American Association of Individual Investors (AAII), bearish sentiment surged this past week, climbing to 38 percent from 28 percent the week before. Bespoke Investment Group points out that there hasn't been that large an increase over a one-week period since Feb. 11.