CPCE Put/Call Ratio Daily Chart

The uber low put/call ratios (red circles) indicate a significant market top at hand. It is not uncommon for stocks to continue higher for a day or few after the low put/calls are printed. The expectation remains for a sell off in stocks going forward on the daily basis to remedy the complacency. The long side for stocks would not be considered or attractive until the CPCE prints up around 0.90-ish and higher.

Markets are exhibiting very odd behavior. Central banker jawboning plays a role in keeping stocks elevated. ECB President Draghi was flapping his dovish wings this morning. The last couple days, stocks recovered intraday purely in sync with oil prices recovering. So pay attention to oil. The Monthly Jobs Report is tomorrow morning and will impact markets. The low put/call ratios have not received a strong selloff as yet so this remains on the table going forward for the days and week or two ahead. If the jobs report creates mayhem, the low put/calls will accelerate the sell off in stocks. If stocks rally on the jobs report tomorrow, then the near-term stock market top would be assumed to occur tomorrow afternoon or say, on Monday. 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.