Barron’s readers are feeling downbeat about the outlook for stocks, with overall attitude being bearish and seeing stocks as overvalued.

More than 1,000 people responded to Barron’s latest reader survey, with 71% indicating they are neutral or bearish on stocks. The bulls’ ranks shrank to 29% this fall from 40% in April.

“Among other findings, only 5% of readers consider the U.S. stock market undervalued, while 42% call stocks overvalued. A looming recession isn’t among their chief worries, however. While U.S. economic growth might be less than robust, a plurality of readers don’t see a recession occurring until the second half of 2020, at the earliest,” Barron’s said.