CPC Put/Call Ratio Daily Chart Bullish Complacency Continues Even After Selloff
After the strong market sell off today, the CPC only printed 1.05! Look at how the CPC has not been above 1.10 for three months. This verifies the bullish complacency and total lack of fear of the markets going lower, even after todays selloff, is in place now. This is bear-friendly moving forward. For a selloff like today, the CPC should have pegged 1.2-ish. The 10 MA is above the 21 MA and the 17 MA is above the 25 MA which is bullish for the CPC, thus, as CPC moves up, fear increases, and markets sell off, until the fear is rampant and excessive at 1.2 and higher.
Market bottoms are identified as the CPC moves above 1.2 (green box). Market tops are identified as the 0.7's are printed (red boxes). Projection is for the broad markets to maintain weakness until the CPC prints above 1.2 which would then signal a broad market bottom. The bulls remain much too complacent so markets should continue to sell off until traders feel the fear. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
keystone! i agree a bounce should be in the cards. how high? dunno, new high, dunno. We got the serious smack down you'vr called for for days! good stuff. market needed it, needed it badly to get out of this nose-bleed overbought shenanigans. Very interesting to see that calls are still favored.
ReplyDeleteMe think 50d-SMA is next serious stop. Not necessarily tomorrow, but soon enough, especially if the bull complacency remains. That would be SPX 1330s or so.
I stopped following the markets after 12 noon, too boring all actions was first 1hr.
AAPL still hanging on it's tree, but for how long? It will fall off, just like any other company prior (MSFT, CISCO, etc) that crossed the $500B mark.
News still calling for $1T market value. excuse me. hahaha
Or how about this for a headline: aapl taking a breather.
Total bull complacency, which will end badly. Maybe not tomorrow, maybe not next week, but rather sooner then later for sure.