Overall sentiment this week is once again mixed between institutions and small investors. The AAII’s small investor survey showed a 2% decline in bullish sentiment to 39%. This was just the second reading below 40% in the prior 6 weeks. The investors intelligence poll continues to show a growing sense of bullishness. Bulls jumped from 54% to 56%. Investors expecting a correction slumped to 25.3% from 28%. The bullish reading is the highest level since 2007. Of course, this data does not include yesterday’s market crash. Mark Hulbert at MarketWatch says his newsletter survey plummeted 38% with the market and my guess is that we will see similarly large drops in bullishness when next week’s II and AAII data comes out.