Despite all the immediate concern, the British exit from the European Union doesn't seem to be having much effect on investors. Investor sentiment from the American Association of Individual Investors was released yesterday and showed that bullish sentiment increased for the second straight week to 31.1 percent. That’s the highest that reading has been since late April.
It is still fairly low, though. There is still a ways to go before this measure even gets back to average levels, as bullish sentiment has been below 40 percent for 36 straight weeks.
While bullish sentiment increased, bearish sentiment saw an even larger decline in magnitude. From last week’s level of 33.4 percent, bearish sentiment declined to 26.7 percent, making this the largest weekly decline since February.