Thursday, December 8, 2016
CPCE CBOE Put/Call Ratio and SPX S&P 500 Daily Charts Signal Significant Market Top At Hand
The stock market upside orgy continues. The Trump Rally pumps stocks higher in November into this month. The ECB provides more QE which pumps stocks higher. Italian bank bailouts are coming further pumping stocks higher. Trannies (Dow Transports) print new all-time highs yesterday providing a Dow Theory confirmation of the Dow Industrials all-time highs so the computer algorithms go wild with buying programs yesterday.
The market euphoria, lack of fear and complacency is rampant as traders drink Fed and ECB wine and stagger around buying stocks with reckless abandon. The CPCE put/call prints lows not seen since the summer of 2015 at the significant stock market top. The red circles show market tops and the green circles are market bottoms. What do you think will happen? Stocks are in a melt-up now but a pull back move is desperately needed and on the come due to the rampant complacency and lack of fear. 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.