CPC Put/Call Ratio and SPX S&P 500 Daily Charts

The uber low CPC and CPCE put/call ratios continue indicating rampant complacency in the stock market. This ongoing fearless behavior in the chart is rare (all these penny ante highs in the SPX as the put/calls keep banging out lows) and represents traders drunk on Fed, ECB, BOJ and PBOC wine and happy to buy stocks at any price.

Investors are intoxicated from the Fed's easy-money liquor in the punchbowl, donning lampshades and dancing on desktops, throwing darts at stock pages. The happy and complacent bulls are willing to buy anything at the ask because everything goes up on central banker largess. The central bankers are the market and this obscene Keynesian spending this year explains why the put/calls stagger along at uber lows with the stock market unable and unwilling to correct lower.

Of course all good things come to an end and the put/calls are going to want to extract their pound of market flesh. Stocks are typically bullish into the FOMC meeting which is Tuesday and Wednesday so if the bears want to flex their muscles, they need to start now. Either a big 40 to 100-point reversal in the SPX occurs now through, say Monday, or, it will be kicked down the road to perhaps the last week of this month or early April. Be cautious, however, and do not be greedy. If you have profits on some VST long trades, take the money, since those put/calls are likely going to whack stocks at anytime forward. 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.