Based on the latest weekly sentiment data from AAII, it appears that investors are growing increasingly concerned about the market as bullish sentiment declined from an already low 34.17% down to 28.1%. That’s the lowest weekly reading since June 1st, right before the volatility in the FANG stocks really got going and the largest weekly decline since mid-May. This week’s reading also extends the record streak of weeks below 50% up to 138 weeks!

Bearish sentiment has seen an even more pronounced move, rising from 32.8% up to 38.29%. That’s the largest reading for the bearish camp since mid-April. Also outside of a few weeks in the Spring, where bearish sentiment spiked higher, you have to go all the way back to early 2016 to find a period where bearish sentiment was higher.

While individuals are increasingly bearish, one-third of investors still can’t make up their mind. While that may sound like a lot, it is actually down considerably from the 40%+ levels it was at just a few weeks ago.