Here are the latest AAII Sentiment Survey readings and how to read them:
This week (posted by AAII):
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Bullish: 33.7%
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Neutral: 20.3%
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Bearish: 46.1%
Source: AAII’s site and weekly recap. (AAII)
Bull–Bear spread (bullish − bearish): −12.4 pp for the week of Oct 16, 2025 (bears > bulls). (YCharts)
How to interpret it (quick):
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AAII is best used contrarian: extreme optimism can precede pullbacks; extreme pessimism can precede rebounds.
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Long-term “normal” levels are roughly Bullish ~38.8%, Neutral ~33.4%, Bearish ~27.9%. This week has below-average bullish and above-average bearish sentiment. That’s a cautious/slightly contrarian-bullish setup, but not an extreme (e.g., not >55% bearish). (AAII)
What to do with it:
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Treat it as context, not a timing signal. Combine with your plan/indicators (trend, breadth, valuations, risk management).
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If you like one number: the negative spread (−12.4) says investors are leaning fearful this week—historically a mild tailwind for forward returns, especially if other indicators start to firm up. (YCharts)
Want me to watch this weekly and ping you when we hit extreme readings (e.g., bullish >55% or bearish >55%) and translate what that’s meant historically?
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我的解讀（僅供拋磚引玉）：目前不確定性仍然很高，可上可下。Bearish 46.1%在borderline，不夠contrarian. 而且VIX大幅上升到20以上，預示波動性加劇。今天各種技術指標和加密貨幣相比前兩天還有所下跌，不能說企穩。
