I believe today's action was constructive. There was a lot of put buying today and yet the market has managed to hold itself together. I have not yet updated the chart below for today's put/call ratio but today's action takes it up to the 1.00 level.
I remain constructive through April and believe dips are for buying. Have a great weekend.

*I would also note that the only time this entire bull market that CBOE put/call ratio exceeded 1.00 was this Summer after the Flash Crash and Persian Gulf Oil Spill . The previous time was in January 2009, during the bear market.

** I know many readers prefer the equity only reading. We are also at an extreme on that indicator as well. 

1 comment:

Anonymous said...

Load of people bot in Feb and March and are now sitting on losing positions. Margin clerks should remain busy remainder of month imho.