Bullish sentiment fell among financial advisers surveyed in the weekly Investors Intelligence poll.
The percentage of financial advisers who are bullish on the market decreased to 50.5% from 57.5% a week earlier, while bearish sentiment increased to 18.1% from 17%.
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The percentage of financial advisers expecting a market correction grew to 31.4% from 25.5%.
In the week ended Tuesday, 46.1% of stocks listed on the New York Stock Exchange were above their 10-week moving averages. Also, 58.9% of NYSE stocks were above their 30-week averages.
The Dow Jones Industrial Average recently rose 49.94 points to 22048.93 and has risen 19% in the last 12 months.
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(END) Dow Jones Newswires
August 16, 2017 10:00 ET (14:00 GMT)