
The Fed announced its fourth consecutive 75-bps rate hike for 2022 to a target range of 3.75%-4%, the highest level since January 2008. The consecutive rate hikes this year have led to a significant market sell-off.
However, despite the prevailing uncertainties, according to the latest AAII Sentiment Survey, bullish sentiment among individual investors regarding the short-term direction of the stock market soared to a nine-week high.