AAII Investor Sentiment Very Bearish Now

According to AAII and a chart of AAII data at pragcap.com it can be seen that AAII sentiment is in a heavy bearish zone right now.  From a contrarian viewpoint this could be a bullish indicator for the market. 

Also pointed out at that site is that the last time sentiment was this bearish was about the 9/10/2010 mega low in the market.  It does not look like sentiment is quite to that equivalent as in 9/10/2010 but maybe close enough.

In the one of postings previous to this one I indicated that the sp500 is at a supportive zone of a large swing trading channel.  The bearish sentiment of AAII as shown in the chart at the link above seems to support the bounce theory from current levels in the sp500.

Currently BOT long as of 1294 in the sp500.

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