As seen in the attached chart the American Association of Individual Investors (AAII) Sentiment a gauge of individual investor sentiment, small investors are extremely nervous.  Typically readings this low suggest many investors have already sold out of the market and are on the sideline.  This removal of massive selling pressure is symptomatic of bottom formations.  As seen the current readings are at similar levels as the 1998 and 2002 lows.  This suggest to us that in the near term a reprieve rally may take place and provide a short-term opportunity to make trade able long gains.