Near Term Sentiment Finally Spikes

Throughout this crash near term sentiment readings have showed bearish readings, but have failed to reach up to the type of extremes we needed to see to mark the end, or at least begining to the end of this waterfall crash we have been experiencing.

This has finally changed. Sentiment Trader's Short Term Sentiment indicator finally spiked today giving us an overly fearful situation. With the VIX now at all time highs traders have to consider the fact that this decline is very close to an end; or at a minimum a relief rally.