With the put/call ratio at 1.08, we may be near a bounce up in the indexes. However, note the GMI has fallen to 2. gmi: 2 gmi-2: 7 t2108: 42 No tags for this post.
Wednesday was 32nd day of QQQ short term up-trend, but it could reverse on Thursday. But with the put/call ratio around an extreme 1.2, the market could bounce. gmi: 4 gmi-2: 2 t2108: 39
With the put/call ratio at 1.17, a continuation of the bounce is likely. IBD still sees market in correction. gmi: 0 gmi-2: 2 t2108: 15
All of the major indexes I follow have over-sold 10.4 daily stochastic readings (<20) . I suspect we are about to get a short bounce within this longer term down-trend. I remain mainly in cash. gmi: 2 gmi-2: 2 t2108: 62 No tags ...
With the put/call ratio still above 1, bearishness is high and the bounce is on. I am patiently waiting on the sidelines in cash. The GMI could go to Sell with a weak day Thursday. gmi: 1 gmi-2: 3 t2108: 34