Bearish sentiment among individual, or retail investors, fell for a second straight week, as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24% extended its rally off the near 3 1/2-year closing low on March 23. According to a survey conducted by the American Association of Individual Investors (AAII), 44.7% were bearish for the week ended April 8, indicating they expected stock prices to fall over the next six months, down from 49.7% the week before. The week before snapped a three-week streak in which more than half of surveyed investors were bearish, according to AAII, culminating in a 7-year high of 52.1% for the week ended March 26. That last time more than half of the investors surveyed were bearish for three weeks in a row was the four-week streak ended March 12, 2009, according to AAII data. That week included the time when the S&P 500 marked its financial crisis bottom on March 9. Back then, at the end of the second-straight week below 50% bears, the S&P 500 had rallied 23.1% off its March 9 low. Fast forward, as of Wednesday's close, the S&P 500 had run up 22.9% off its March 23 closing low.