The American Association of Individual Investors (AAII) sentiment survey for the week ending January 17, 2025, indicates a notable decline in bullish sentiment, which has dropped to 25.4% from 34.7% the previous week. This marks the lowest level since mid-July 2024, when bullish sentiment reached 52.7%. Concurrently, bearish sentiment has risen to 40.6%, up from 37.4% the week prior, representing the highest level of bearish sentiment observed in over a year. The bear-bull spread of 15.2 percentage points is the largest since November 2023. Analysts suggest that such low bullish sentiment levels often precede potential buying opportunities in the stock market. Additionally, U.S. money market funds have reached an all-time high of $8.2 trillion, and the market capitalization of the largest 50 stocks relative to GDP has hit 110%, surpassing previous peaks during the Dot-Com Bubble and the Global Financial Crisis. Furthermore, the allocation of financial assets in U.S. stocks by households, mutual funds, pension funds, and foreign investors has reached a record 54%, exceeding the Dot-Com Bubble peak by 3 percentage points.