Wednesday, April 29, 2009

Equity Put/Call Ratio Starting to Turn Higher

Click on Chart to Enlarge

I justed wanted to show an updated chart of the equity put/call ratio with some moving averages that I had shown a couple weeks ago.

The averages look like they are starting to turn up, but it would be better to see them both point higher to signal a market top.

Today is a regularly scheduled FED meeting. The tendency in recent months has been for the market to gap up and move higher during the day on these days. However, those big moves have created great short-term bearish set-ups as well. The market is set for a gap up today, and I will likely wait until the afternoon before potentially suggesting a new trade entry.

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