Investor Sentiment Check

The market is losing a bit of its momentum as I write this, but semis are still strong, as tech is outperforming.

Investor sentiment is running at about average levels:

• The ARMS Index is just above average at 1.23
• The CBOE put/call is average at 0.87
• The ISEE is showing a bit more bearishness, running at the equivalent of 0.83

As for the sector ETFs, after tech, financials are up the most (+0.5%), while energy is down the most (-0.5%) and consumer staples are down slightly (-0.1%).

Oil has put in a fairly large downside reversal today, and is currently down more than a buck, to below $58. This should boost the overall market, even as we have seen that it can weigh on the market in the short-term as it drags energy stocks lower.