* what will be a useful clue during the next ten trading days into the April 15th options expiry is:
how many days occur for which this ratio is less than 20% ... and how many occur over 80%
FYI - only eight days in 2011 have resided below 20%
thirty-four days in 2011 have resided above 50% (54% of the 63 trading days through April 1st)
in contrast, shown below is the same chart view for the June, 2008 to June 30, 2009 time period when price was declining and then basing horizontally -