The market is ready to fall again at least to the recent lows at 1170. Here is the put/call ratio indicating an overbought condition:
The ratio reaching above previous overbought levels indicates that many traders have become too bullish with the recent good economic data and the prospects of an end-of-the-year rally. I expect them to be shaken out during the week ahead.
4 comments:
http://3.bp.blogspot.com/_w_OE7neHnUI/TOpSuGKRtaI/AAAAAAAABjo/C-EA9rkmW10/s1600/101122_ES_15min_IHS.png
it is terrible :)
the wonder of the market: different people look at it at the same time and draw opposing conclusions.
:) clever answer
More precisely: wisely :)
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