Here's a good visual of what I've been discussing on the AAII Bull Bear stuff.  My comments on the weekend were that people keep getting too bearish on any small consolation, looking for tops because they know the market is overbought.  Yeah the CNN fear green has been sky high but if you read the definition that's just another measure of put/call, it's nothing exotic. Plus CNN LOL enough said

anyway on the AAII you generally want to see this spike high near tops, not be near neutral like it was end of last week. That small consolidation on the Iran War stuff was enough to get enough people bearish looking for tops.

I show two charts here, the zoomed out one, and on the second one I show a zoomed in view.  Notice at that pullback in late Aug the AAII went slightly negative, tells me people were looking for a high and jumped on that become bearish thinking the top was in. Then price rallied to new high but notice on the first pullback there the AAII ramped way up bullish? Why did it do that on the pullback? because people were no longer finally looking for that top and instead were buying the dip, which of course was finally the wrong thing to do as the market cratered then. On our current market I would love to actually see the AAII get more bullish on a pullback to signal that traders have flinally flipped from looking for tops and buying the dip only to be trapped finally 

anyway back to trading, just thought I would show the charts to show better what I've been talking about. 

short term we'll see if that Exhaustion trade can trigger today on SPY or not