CPC and CPCE Put/Call Ratios Daily Charts; Complacency Indicates a Near-Term Top Ahead

Here we go again. Traders comically flock from one extreme to the other and then back again. Both the CPC and CPCE put/calls plummet lower signaling rampant complacency. Traders are drunk as skunks on Fed, ECB, BOJ and PBOC wine buying stocks with reckless abandon. Crash, schmash. No one is worried. The low put/calls indicate that investors are fearless and not concerned about a market selloff at all. The October crash is long forgotten.

The low put/calls signal a near-term top at hand at any time, any hour, any day ahead. The jobs report is in the morning so, as teeny-bopper Ellie Goulding sings, "Anything Could Happen." If stocks rally, that would be great from a shorting perspective since it will provide nice entries. It will likely be prudent to bring on shorts every couple days forward until we see where this short-term top is going to occur. The SPX 2-hour chart shows long and strong indicators that likely want to see another price high. 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.