My trendline work suggested a ST bottom in the 1379-84 range today. Well, we are there. I am, however, surprised to see the P/C ratio. Very low given the size of the drop. Any thoughts on the P/C numbers? I know you don't place too much value on intra-day, but it still seems to be a number I would expect closer to a top.
FWIW, if 1379 holds, I would expect a 100 point rally followed by a sell-off into the 23rd or so. The final low for the correction would be about 1350-60.
Mike
Market Data 
Markets 
AI
