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SENTIMENT UPDATE

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.