Investor Sentiment Check

Measures of investor anxiety are not as high as I would hope for on a day like today. Maybe that is because it is really tech that is getting hit, while the Dow is actually up on the day.

• The ARMS Index is only at average levels at 1.0
• The CBOE put/call is also around average at 0.87
• The ISEE is low at 113, the only indicator showing rising fear

Also, the recent bull/bear polls (Investor's Intelligence and AAII) show an increasing number of bulls relative to bears. In the short-term, this could be positive if more people are turning bullish. But if complacency gets too high, it likely means that a bigger correction is coming.