In June, advisers were more confident about the longer-term prospects for the U.S. economy and the stock market, according to Rydex | SGI AdvisorBenchmarking.

The Advisor Confidence Index, released on Monday, was at 104.29 in June, up 3% from 101.19 in May.

Three out of four components of the index improved in June: the six-month economic outlook was up 5.37%; the 12-month outlook bumped up 2%; and the stock market outlook increased the most, at 6.41%.

The current economic outlook, however, dropped 1.12%.

Several concerns are keeping advisers from being wholeheartedly bullish.

Those are potential deflation as a result of the European debt crisis; high unemployment in the U.S., which is still at 9.7%; and investors' sluggishness in the wake of the oil spill in the Gulf of Mexico.

"The jobless situation coupled with the European debt crisis means there is no recovery," said Ken Graves, a managing partner and principal of Capital Research Advisors, an independent research firm in Alpharetta, Ga.

"People who don't work don't have money to spend and with the cutbacks being made across whole countries in Europe, whole societies are saying they have less money to spend."

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