Investors and advisors have pared back their bullish sentiment in the last week. As Mark Hulbert notes, advisors have decreased their bullishness by 25% since early June. We are also seeing a steep decline in the AAII investor sentiment poll with a sharp decline from 38% to 28%. I agree with Hulbert’s analysis below. Sentiment no longer favors one specific side of the trade. Thus validating my current neutral stance.