Lots of bearishness while small caps make new highs for the year

Last week there were more stocks making all-time highs than any other time since I started this blog. Yet I read a lot of bearish sentiment among traders in the blogosphere lately. For instance, one blogger is calling for a top in the next 30 days and another says it's time for the bears to take the stage. While these calls for a big sell-off might be correct, stocks continue to move higher. The leader for most of this rally has been small caps (IWM) so I keep watching them for signs of weakness. I don't see much weakness here yet.