what about market sentiment?   consistent with a divergence in positioning, you can see a clear disjunction between households and professionals.  on the former, note that traditional measures of retail sentiment — e.g. AAII bulls/bears or CNN fear/greed — have moved into neutral territory.  on the latter, in our most recent Quick Poll survey of sentiment across professional traders, the ratio of bears-to-bulls was still 3:1 (link).    

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