Individual investors are becoming more optimistic:

In the latest AAII survey, the proportion of retail investors expressing bearish sentiment has decreased to 33.6%, the lowest level since January 29.

In the past two months, this ratio has almost halved.

To illustrate this more clearly, the lowest value last year was around 20%.

At the same time, retail bullish sentiment rose by 15 percentage points to 36.7%, the second highest since January 29.

This emotional shift is even faster than the bear market of 2022.