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.
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