Only two readings above .60 for equity p/c ratio in January with today's reading a cozy .58. Just a little too much optimism in the face of deteriorating technicals. This is why it's good to periodically check equity options, as index options are often used for hedging and don't give the whole picture. If bears are really starting to be in control, any rally should fail at 20 ema hourly chart. We will see how the trading day progresses. The increase in volatility is a welcome development for traders.
This entry was posted
on Monday, January 23, 2006 at 9:20 PM.
