Schaeffer's 21 day ma equity P/C ratio is benign right now. Here it is shown with OEX [sp100] <img src=http://www.schaeffersresearch.com/cfxtemp/CFT1115_12002432C.jpg> <img src=http://www.schaeffersresearch.com/cfxtemp/CFT1115_1204523B9.jpg> link to Bernie's page <A HREF="http://www.schaeffersresearch.com/streetools/cboe_eqpcr.asp" target="_new">http://www.schaeffersresearch.com/streetools/cboe_eqpcr.asp</A> G.