Investor Sentiment Check

The selling in the market continues to be heavy. Tech and small caps are leading the way on the downside, while energy and materials are the few up sectors.

Oil is trading around $63, while the yield on the 10-year is down 3 basis points to 4.43%.

As for investor sentiment, it is not flashing as much pessimism as I would like to see.

The ARMS index is above average at 1.33. The ISEE is below average at 123. And the CBOE put/call is about average at 0.87.

On a bid down day like today, I would expect to see more concern.