Oversold

The market is now oversold ( I will post a chart in the morning). Sentiment is negative but not at an extreme. As I have mentioned numerous times the Existing Home Sales number tomorrow should be a disaster. If we dip after the number I believe the market is good for a bounce through the end of the week. Have a good night.

4 comments:

CP said...

Did you see the equity put/call on CBOE today? Was that a misprint?

Chaos! said...

A half hour before the close the reading was .56. I suspect there's an error inthe last submission.

Tsachy Mishal said...

I think there was a big trade at the close which one can choose to ignore but even so a .55 equity put/call reading on day 10 of a decline is a little too complacent.

Tsachy Mishal said...

Here are the daily stats for the CBOE
http://www.cboe.com/data/mktstat.aspx
It does not appear to be a typo