Allianz Life released a survey last month that said 74% of Americans are concerned that a correction is coming as they see recent market highs as unsustainable. That was on Sept. 22 and the S&P 500 went on to hit an all-time high on Oct. 6 of 7,818. Currently, the large cap benchmark is at 7,720, up about 13% year-to-date. This index, which examines seven different indicators to gauge the mood of the market, currently has a score of 35 out of 100, indicating fear. But just a week ago, the index plummeted to 19, which indicates extreme fear.
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