It is "dangerous" when the P/C ratio drops under .42/4, but we already had a .36 reading on 6/20 and at the peak of the Naz in the 7/14-16 window, we got numbers under or close to .5, including .4 on 7/15. The .36 reading of 6/20 could have been negated with a string of reading above 1.1, but these did not happen, so I am staying with the medium term bearish stance. One indicator alone, though, cannot be used as a forecaster by itself. I know of no single indicator having such predictive properties.
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