AAII sentiment results are out this morning. The implication is the markets may need a few days/week rest before resuming higher. The last instances that Bullish sentiment/Bearish sentiment were in these ranges were Dec 6, Nov 8, and Oct 4. The chart below shows how markets worked off that excess. I do not expect a dramatic work-off like these instances as we are coming off a v-bottom, but more likely some sideways chop/back and fill for the next handful of days. Here you can see the last instances when we were approaching these sentiment levels (live chart link: http://schrts.co/tVQdJf):
