The U.S. stock market is back at record levels, but investors aren’t in a celebratory mood. According to the weekly survey of sentiment conducted by the American Association of Individual Investors, market participants are feeling somewhat tepid about the market.
That's in spite of a lengthy move higher that took both the S&P 500 and the Dow Jones Industrial Average to records last week. That was the first such milestone that the Dow had reached since its previous record set last January.
But according to the survey, 32 percent of investors describe themselves as bearish on the market, meaning they expect prices will be lower in six months. That represents a slight dip of 0.8 percentage points from the previous week, although it is still above the historical average of 30.5 percent.
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