ONLY UP FROM HEReEvery time the RSI reached extreme levels on the Put Call Ratio,We reached the call or put extreme.In this case,the RSI reached the overbought level,which only happened on 2 occasions during the last 15years,means majority of participants are already short.Since equities prices are always on the hun
Extreme Panic in Put/Call Ratio = Bottom in Equities soon?Yesterday's spike in the CBOE Put/Call Ratio brings it closer to the spikes seen during Covid fall and the December '22 bottom. This is a sign of extreme panic and we could be very near to the bottom in US Equities.
SPX as of 4th Oct closing = 4263.76
Pre FOMC quick takeAll in the video, I cover a few of the sectors and point out this area has been tough resistance for the market in the past. Noone seems to be expecting more problems with the banks, which to me is sort of strange as we don't know the full fall out yet.
Good luck tomorrow - FOMC at 2pm and 2:30 p
PCC & QQQ: PUT TO CALL RATIO / MARKET BOTTOM NEARING???DESCRIPTION: In the chart above I have included an overlapping analysis of PCC which is a PUT TO CALL RATIO INDICATOR & QQQ a LEADING INDEX in the OVERALL MARKET.
POINTS:
1. A PUT TO CALL RATIO LEVEL OF 2:1 HAS ALWAYS BEEN INDICATIVE THAT A MARKET BOTTOM IS NEARING OR IN.
2. MACD is has official
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Displays a symbol's price movements over previous years to identify recurring trends.