Thanks for the input. And you're right, shooting for 1000 if 1670 fails is a reach. Actually I should be more clear. What I meant to say is that I'm bearish if the market falls back into the channel and bullish if the market stays above 1670ish. In between I'm neutral.
I don't know much about how to trade the p/c ratio so your input is extremely valuable. I do sense that during the whole rally, there have been few 'low' days.
The 21dma low that induces a selloff seems to be higher and higher. For example it looks like it was about .56 in Aug 02 but now it looks like .63. I wonder what that means?
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