Damn that rabbit proof fence
Posted on 05 February 2010
With the global equities market in bushy tailed mode, it’s been remiss of me not to throw this chart up:
A trend reversal in the monthly (higher high and close below the previous months range) has good form as an leading indicator of market direction. The conclusion – keep out of the carrot patch unless you are particularly fleet of paw.
Back to the trusty CBOE put call ratio:
The downtrend in the ratio has been cleanly severed. It will need to push through 0.80 before I consider some longs…
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