Public market sentiment is extremely negative. Fear is currently running higher than it did during the Euro Debt Crisis of 2011. The difference then was that fear didn't reach similar levels in 2011 until all of the problems with the euro zone became apparent and the S&P 500 had corrected approximately 15-20%. Fear is higher today with less downside movement in equities. What's interesting is how negative public sentiment is when compared to investor sentiment. Investor Intelligence reports somewhat bearish or neutral sentiment while public sentiment has become extremely negative, extremely fast. This is generally good for the stock market.
(charts courtesy CNN Fear & Greed, Stockcharts.com)
