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It didn't take much, but after a sell-off of less than 3% in the S&P 500, individual investors are quickly throwing in the towel. This week's weekly sentiment survey from the American Association of Individual Investors (AAII) showed that bullish sentiment declined from 46.58% to 36.63%. This is the largest weekly drop since November (the last time the S&P 500 had a 3% sell-off), and it brings bullish sentiment down to its lowest level since the start of September. With investors so quick to turn bearish after just a 3% decline, we can only imagine what will happen if the recent weakness turns into a more meaningful correction.
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