Poor sentiment positioning hampering the market. Expecting more ST downside

Comming into the end of the year there was a massive $25Bweekly inflow into equity funds. After this week's decline you would figure that sentiment would have turned negative, but no. Another weekly inflow. Not as big but a solid $9B. This is not good. It shows too much hope. NAAIM is another indicator showing way too much bullishness given the poor market action. I also was expecting it to go down this week but instread climbed to 89% long. That made me cringe. Only AAII sentiment ticked down. Put/call ratio is also starting to perk up but all in all, there's not enough pessimism to mark a low here in my opinon.