Early Put/Call Data Not Encouraging

The early put/call ratios are not encouraging. While call buying is not necessarily a bad thing I would have liked to see more strength with this level of call buying. Its still early and a single reading is just that but its not encouraging.

6 comments:

Onlooker said...

My comment from the previous post:

Huge call buying on the first print at ISE on this spike. Turned back from resistance levels of yesterday's trading range, so far.

I agree with you about being too bearish here, but apparently plenty are still trying to pick a bottom here and got real excited on that skyrocket rise/short squeeze.

Anonymous said...

We should see some buying in the next 30-40mins.

If the market doesn't pick up by then , I think we might sell aoff again into the close.

Tsachy Mishal said...

Second CBOE reading is good for bulls.

Anonymous said...

also, I'm not expecting much the rest of this week. Maybe a bit lower. I think we get a 2-3% rally next week, then continue lower.

Look at a 12month chart of S&P. clearly it shows a reversal and lower highs and lower lows. Theres no doubt we are going lower. But after a quick 2-3% move higher.

Sell into rallies and get short.

Tsachy Mishal said...

Put/call data now neutral with the market flattish. The day begins anew.

Onlooker said...

The market continues to work off oversold conditions by going essentially sideways. Other than a bit of a squeeze early on(especially on the RUT & NDX) this action is not exactly inspiring, the way I see it.