ajtj99's Market Pulse

[Justa Werkenstiff]

Market: The CBOE p/c ratio is bullish longer term. But it only triggers a sustainable bullish move when it turns down as seen in the moving averages. The daily trend in the p/c has turned up again as seen in the shorter moving averages and the weekly remains up. Look at the 10 week moving average. You see, the issue is how high is high and nobody know the answer because these readings are historically high.

Let me note that the OPEX P/C is not at all bullish; in fact, it is bearish as a non-contrarian indicator on the 10 dma and the 21 dma. Nobody seems to mention this fact.

Anyway, as stated last week and proven yet again, all of my indicators continue to work in this p/c background environment suggesting the p/c ratio is the odd man out for now.