Stunning to watch the precipitous decline in the closely tracked American Association of Individual Investors (AAII) Investor Sentiment Survey. The February 26 print of 19.4% marks a significant downward move from the prior week (29.2%), suggesting a give-up in investor confidence is underway.

Much has been said (and written about) the extraordinary events of last week involving the unveiling of China’s stimulus measures, aimed primarily at protecting the central governments 5% growth edict.