Justa,
most people use the put/call, as well as vxo/vxn as the sentiment gauge. obviously you have something else, and yours are signaling frothiness, yet the put/call, even the equity put/call is persistently high. as you mentioned, such high reading in the past would produce big up days once such high readings are seen. lately it seems we have days and days like that. other than keeping me in a long bias i dont know what to make of it as it aint behaving like in the past !
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