The short-term CNN Fear &Greed Index is at an oversold 10, which is signaling a market bounce, from a contrarian point of view. The Ned Davis Research short-term sentiment indicator has pulled back to 33, which is also on the oversold side.
The Intermediate-term sentiment indicators are not quite as easy to read in terms of market direction, but are getting more optimistic. The NDR Crowd Sentiment has fallen to 59, but it needs to get below 50 for a more bullish signal. The Investors Intelligence Bulls and Bears, a polling of sentiment of market newsletters, is at 42% bulls and 21% bears. Bearish sentiment needs to move up at least 10% before there is a clear bullish market signal.