Since 2004 only 8 times the Equity Put Call hit these high of levels on a daily candle as it did before the recent ramp up. Hits 5 and 7 were accompanied by declines, but keep in mind, that was the great run down from 1300 to 666. So that was very unusual. I don't think the big banker brokers (HBB) like the idea of retail traders making big money on declines, that is supposed to be their territory
I will try to put this on my "Indicators" page as a permanent link, it takes around 15 minutes of messing around to do it, check here later on.
http://oahutrading.blogspot.com/p/new-page-for-testing.html
Steveo, I was looking at the S&P charts tonight and wondered if we were seeing a H & S pattern developing. It appears to me that the left should is 1343, the head is 1370 and right should could be today's value of 1353. Neckline would be 1255 or so. This implies a bearish target of 1150, which seems to agree with Point and Figure target of 1140.
ReplyDeleteWhat are your thoughts?