Investor Sentiment Check

The markets have rebounded strongly from this mornings lows, and are now all in positive territory and sitting near session highs.

Investor sentiment is supporting the move, as this morning's trading was characterized by high levels of bearishness. Here is a quick look:

• The ARMS Index is above average at 1.17
• The volatility indexes are both higher today
• The CBOE put/call ratio is very high at 1.08
• The ISEE is also elevated at 0.87

Small caps are leading the way, with large caps lagging. Retailers are the best performing sub group, while semis are still in the red. Tech and brokers are also doing relatively well.