ISE Sentiment Index (ISEE) Highest Since April 15

Regular readers know that one of the sentiment indicators we use (besides the CBOE equity put/call buying ratio and the weekly AAII investor sentiment survey) is the ISE Sentiment Index (ISEE). The ISEE's claim to fame is that it is:

a unique put/call value that only uses opening long customer transactions to calculate bullish/bearish market direction. Opening long transactions are thought to best represent market sentiment because investors often buy call and put options to express their actual market view of a particular stock.

Today's ISEE value of 183 was the highest (indicating the most call buying) since April 15 of this year. And as I mentioned earlier today, the AAII percent bullish is elevated again, and the CBOE indicator shows lots of call buying.