Profunds index and sector trading

[Gizmo]

I'm not seeing a substantial breakdown in willingness to take risk, but we could be at the beginning of something. I put alot of stock in the ratios of safer assets to riskier ones and what people are willing to hold. (ala Steve Saville)

I'm coming to the conclusion that this is not the big kahuna decline. Bearish sentiment amongst traders is increasing but Imo not yet at a level which suggests a bottom. The flip side is price action suggests great complacency amongst J6P. Market risks seem high but price is not responding enough...yet.