Intermediate term sentiment is quite negative. Investors-intelligence Bulls/Bears, which monitors attitudes of more than 100 market newsletter writers, is at 60% bulls and 18% bears. That’s very negative from a contrarian point of view. The difference between the bulls and bears is now at 42, which is an extreme warning sign. The Ned Davis Research Crowd sentiment is at 69, one point away from the official sell signal of 70.
On the other hand, short-term sentiment indicators are not signaling one way or the other about where the market was headed. The CNN Fear/Greed Index is at a neutral 46. And the NDR short term sentiment is at a neutral 51.
On future direction at this time.