Props to the fantabulous SentimenTrader service for the grab on the ascension of bearishness yesterday, peculiarly inwards the morning time trade. The CBOE equity put/call ratio, calculated for each half-hour period, exceeded 1.0 inwards mid-morning; past times the halt of the day, it was a still-elevated .78. As the nautical chart shows above, that is territory to a greater extent than of late associated amongst marketplace position bottoms than tops.
It is this bearishness that is helping maintain prices relatively elevated equally nosotros correct. If such a apartment correction continues, keeping us to a higher house end week's Thanksgiving lows, I would await a sizable deed to novel bull highs inwards stocks.
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