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Heading into Thursday's session, the S&P 500 was little changed over the past week. But even if equity prices are not reflecting it, the decimation of the crude oil market has put a dent in investor sentiment. In this week's AAII survey, only 24.86% of investors responded as bullish. That is the lowest level of bullish sentiment since the COVID-19 outbreak began! The last time the bullish reading was this low or lower was on October 10th when it was 20.31%. The 10-percentage point decline from last week's reading of 34.86% was also the