Friday, May 27, 2016
CPCE Put/Call Ratio Daily Chart Signals Near-Term Top At Hand
The CPCE put/call drops to 0.55 indicating rampant complacency and a near-term top at hand for anytime any day forward. The CPC put/call is at 0.93 lower but not down to recent lows like the CPCE so keep an eye on that over the next couple days. The VIX is down to 13.43 also verifying the lack of fear in markets. When traders are relaxed with their feet up on the desk, smoking cigars, that is when they are whacked in the head. The SPX 2-hour chart hints that a near-term top is likely perhaps today. SPX daily and weekly charts are agreeable to more upside after any pull back so stocks may flounder sideways into June when the Fed rate decision and Brexit vote will dictate the path ahead; in other words, more sideways slop may be on tap until the June drama is known. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.