Investor sentiment is turning increasingly bearish as bulls drop to their lowest level of 2024, according to recent data. The S&P 500 has struggled to make sustained upside progress over the past decade when the Bull - Bear Spread has been less than 20%. The latest AAII sentiment survey shows bulls at 39.8, their lowest level since June, while bears have increased to 31. This shift in sentiment raises concerns about the future performance of the stock market. The data is from the week ending 9/13/2024.