The latest American Association of Individual Investors (AAII) Sentiment Survey for the week ending May 16, 2025, reveals a shift in market sentiment. Bullish sentiment reached 35.9%, the highest level since the end of January, while the spread between bulls and bears narrowed to -8.5. Notably, bearish sentiment fell below 50% for the first time in 11 weeks, dropping to 44.4%, ending a near-record streak of consecutive weeks with more bears than bulls dating back to 1990. This change indicates a potential shift in investor outlook after an extended period of bearish dominance.