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Put-Call ratio
Judging by the put: call ratio the market looks like it is getting ready to bounce.
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Past values over 1.2 have led to an eventual market bounce.
I am 100% cash right now. Leading stocks have been choppy. On my watchlist: PAYC is down 10% overnight. ESNT and NSP have broken down. It looks like my mid-October short of AGN was covered too early.
I saw a study last week showing that whatever the market direction that exists prior to an election continues in the same direction after the election. BREXIT was an exception and so was Truman-Dewey. So, my read is that the market is going down right now...
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Yes
Mike, I interpret the McClellan Summation Index. It's saying the same thing. With the presidential race too close to call, we could be in for a volatile week next week.
I've missed your updates recently. It's good to see you back.
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Put-Call ratio
If the old adage "Bond managers are the smartest guys in the room" then the market looks ready to rally. Corporate credit and derivatives are ignoring the stock market noise.