"Hummm lets see 87% bullish, lots of money on sidelines. So you conclude the 87% bullish are not long and are sitting on cash waiting for a pullback. Your logic is not sound."
I didn't say 87% bullish are not long. You said that. What I meant was there's still good amount of cash on the sideline so the market still has some legs. The 87% figure looks a bit high anyway.