The Zhitong Finance APP noted that a survey shows that retail investors' bullish sentiment has significantly cooled this week, as the ongoing tensions in the Middle East continue to disrupt global markets. According to the American Association of Individual Investors (AAII) sentiment survey data for the week ending June 18, the proportion of bullish investors dropped from 36.7% in the previous period to 33.2%. Meanwhile, bearish sentiment has noticeably increased, with this indicator rising from 33.6% last week to 41.4%. Investors are closely monitoring the conflict between Iran and Israel—reports indicate that the U.S. may carry out military strikes against Iran as early as this weekend, and Iran's Supreme Leader has warned that any U.S. intervention could result in "irreparable losses." On the other hand, Federal Reserve Chairman Jerome Powell emphasized on Wednesday that the monetary policy will maintain a "wait-and-see" stance, pointing out that the uncertainty brought about by tariff policies remains high, and the S&P 500 index ultimately closed flat that day. AAII data shows that the proportion of investors holding a neutral stance (i.e., expecting the stock market to remain basically flat over the next six months) also fell from 29.7% last week to 25.4%. This classic survey, launched in 1987, compiles sentiment indicators by collecting respondents' predictions about market trends over the next six months