CPC Put/Call Ratio Daily Chart Signals Near-Term Market Top

The elevated NYMO and low put/calls over the last week have been signaling a near-term stock market top but as fate would have it, the ECB and Federal Reserve central banks pump stocks higher. The central bankers are the market. The move was not unexpected since the sick Keynesian money printers cannot help themselves. Fed Chair Yellen lives up to her reputation as Queen of the Doves.

The put/call above signals uber complacency in markets. Traders were staggering around drunk as skunks yesterday  joyously celebrating the central bankers and buying any stock with a heartbeat. The CPC indicates that the euphoria is out of  hand so a market top is expected to print at anytime any day.

Keybot the Quant remains long the market but the algorithm is not designed to catch exact tops and bottoms. In Keystone's very short term (VST) trading he has been bringing on index shorts over the last few days and adds to these short positions at the opening bell. Stocks should top out at any time forward.

Next week is shortened by the Good Friday holiday going into the Easter weekend and stocks are typically bullish in front of the three-day weekend. A full moon occurs on Tuesday and stocks are typically bullish moving through the full moon so the market may be bullish next week. Thus, a potential sharp flush lower may occur over the next couple days. Since stocks rallied strongly since the February bottom, the bullish seasonality next week may be ignored. It would not be surprising to see the SPX drop from 30 to 100 handles once it begins rolling over. The SPX weekly chart indicators are long and strong so stocks should recover back to existing levels in the weekly time frame after the flush lower occurs. 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.