Advisers are more confident than they have been since January, but they are still concerned over the disconnect in the marketplace, according to The Advisor Confidence Index (ACI), a benchmark that gauges advisor views on the U.S. economy and stock market.

On Monday, Rydex|SGI AdvisorBenchmarking revealed that adviser confidence about the economy and the stock market increased in July, up 2.29% from June, the first uptick since January. In June, the index fell a whopping 8.66%, for a total of over 20% since Jan. 1.

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