Friday, July 21, 2017

$CPCE $CPC Put/Call Ratios and SPX S&P 500 Daily Charts; Near-Term Top At Hand

The CPCE and CPC put/call ratios remain complacent. The stock market (SPX) takes a little jog the last few days up down up and today down. Everyone is drunk as skunks off Fed wine, BOJ sake and ECB champagne expecting never-ending stock market highs. The low put/calls verify the rampant complacency consistent with market tops.

The bears have been screwed over the last few months with rarely a 0.80 or higher signal in the CPCE occurring or a 1.20 or higher signal in the CPC occurring which identifies a very attractive tradeable stock market bottom. With the rampant complacency and the SPX weekly chart showing neggie d, you do not want to be long right now. A near-term pull back is at hand it is simply a matter of how much the SPX will drop.

If you have been contemplating exiting longs concerned about a pull back today would be a good day to exit as well as early next week. 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.

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