Retail investor bullish sentiment is through the roof: 49.5% of individual investors expressed a bullish stock market outlook over the next 6 months in the latest AAII survey, the highest since November 2024. This marks the 6th week of the last 7 during which bullish sentiment has remained above the long-term average of 37.5%. Meanwhile, bearish sentiment fell to 28.2%, the 2nd-lowest since November 2024. This marks the 3rd consecutive weekly reading below the average of 31.0%. Bullish sentiment has now outpaced bearish sentiment for 7 consecutive weeks, the longest streak in 14 months. Retail investors are historically bullish.(The Kobeissi Letter)