On 09/16/22 soon after the SPX made a new correction low, the Put/Call ratio hit its highest level in over a year.
This indicates a huge amount of money buying puts - a bet on more downside action.
Today on the open the SPX bottomed just above the 09/16/22 low.
This is a cowded downside bet - frequently this situation is the prelude to a change in market direction.
Mark
This indicates a huge amount of money buying puts - a bet on more downside action.
Today on the open the SPX bottomed just above the 09/16/22 low.
This is a cowded downside bet - frequently this situation is the prelude to a change in market direction.
Mark