Solely based on sentiment, it's time to be cautious/Retail and tech earnings comments/Eurozone disinflation

To state again, when it comes to stock market sentiment as measured by Investors Intelligence, I refer to a Bull read above 50 as extended, one above 55 as stretched and when it comes to 60, which doesn't happen often, it should be considered extreme. Seen yesterday, Bulls rose to 55.7 from 52.2 while Bears are down to 21.4 from 22.4. Confirming the excitement on the part of 'professionals', the individual investor's positivity has now gotten extreme. Bulls rose for a 4th week, by 3.5 pts to 48.8, the highest since early August while Bears are down to just 19.6, the least since January 2018 right after the corporate tax cut was passed. Bottom line, strictly from a contrarian sentiment perspective, it's now time to be cautious in the short term. 

AAII Bulls

AAII Bears

Jumping to some of the earnings calls, here are two retailers: