10/15/2014 6:15:51 AM
Good morning Traders,
Since it's Wednesday, we take 3 looks at weekly sentiment.
The above is pointing towards a bottom this week. Below suggests we may have more time to go...
And the below looks back almost 10 years. This is the most advisors we've seen now calling for a correction. As a contrarian indicator, this is bullish.
Sentiment is doing what it's supposed to as the market sells off. This results in potential energy for the market to rally when the selling is done. We will not jump in front of it, but we will wait for that signal to go long, which I expect will be in the next week or so.