Investor Sentiment Check

The falling dollar, and rising Yen, are weighing on the market today. Also, the recent big move up could mean that there is some profit taking as well. But I don't expect the declines to be very big as most still remain underinvested or short this market.

Investor sentiment remains skeptical of this rally as well.

• The CBOE put/call is high at 1.05
• The ISE Sentiment Index is depressed at 108
• The ARMS Index is above-average at 1.0
• Bulls in the AAII survey fell slightly to 39%

Options expiration is tomorrow, so that could be exerting some pressure here as well. I am watching for any good entry points here in stocks I expect to lead into year-end.