- Rydex traders are still positioned slightly on the bearish side (almost neutral) but there has been a big move off of the extremes.
- Newsletter writers tracked by Hulbert are 25% long the Nasdaq, which is a neutral reading
- The AAII survey shows individuals on the bullish side.
- The option ratios are still showing a lot of activity in puts but the put activity has backed off levels we were seeing two weeks ago.
The sentiment extremes we saw a couple of weeks ago are no longer present. However, we have not yet reached bullish extremes and many intermediate term measures are still showing excess levels of bearishness.