Bearish Sentiment Picking Up
This week, the Ticker Sense blogger sentiment poll reached a new low since its inception. The spread on the AAII bull/bear survey is also back in negative territory (more bears than bulls).
Today, we are seeing an uptick in the options indicators. The CBOE put/call ratio opened above 1.0, and the ISEE just fell to 114, showing increasing pessimism.
These datapoints should continue to limit the extent of any pullback. I continue to expect another rally into year-end.