Culmus, thanks for posting that info. I was just wondering about equity-only P/C data minus the QQQ's earlier today!
Have you ever analyzed P/C with taking out the soon-to-expire options? I'm wondering if that would help get rid of the noise we always see from expiration week.
Culumus, I'm glad we had this discussion. That's what I like about these forums. It allows us to share our work as well as get input from others.
The most important thing about using indicators and tools is finding things that work for you. If what you use is working for you and it makes you money now, that's all you need.