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The put/call ratio on the S&P 500 moves to the danger zone - low enough to signal few enough...
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Wednesday, August 29, 2012, 9:34 AM ETThe put/call ratio on the S&P 500 moves to the danger zone - low enough to signal few enough are hedging against stocks falling as to almost assure that outcome. However, cautions Tommy Thornton, wait for indicator to turn higher before beginning to sell.
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Do you look at the OEX in combination with these other indicators?
http://bit.ly/xQNJ14
Seems to also be signalling a near-term top.
Technical...Hit the Babson Reaction Line.
Typically prices stall or reverse there....according to my article in April futures magazine.
Add the fact that S&P is on the verge of setting new highs, the dollar is getting cheaper from a mini euro rally and that the FED is flat out saying "we got your back", and we might even be looking at another short-term rally.
Don't have to be the first on the train to make some $
Date Published Percent Bullish Percent Bearish
08/29 48.9 24.5
08/22 47.3 24.7
08/15 43.6 26.6
08/08 43.6 25.5
08/01 39.4 27.7
07/25 40.4 26.6
07/18 43.6 24.5
07/11 44.7 24.5
07/04 42.5 24.5
06/27 38.7 24.7
06/20 37.2 25.6
06/13 37.2 26.6
06/06 34 26.6
05/30 39.3 24.5
05/23 38.3 26.6
05/16 39.4 22.3
05/09 38.7 20.4
05/02 43 20.4
04/25 41.9 23.7
04/18 44.1 23.7
BULLISHNESS HAS RISEN FROM THE JUNE 6th LOWS.... Contrarian
The link I provided above provides a graph of the Investor's Intelligence Survey you provided. I also pay attention to this one as well.
Still not at an overly extreme level - get bears under 20 and bulls over 50 and that's a pretty good sell signal.