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The 0.75 level for the combined exchange $C/$P normalized appears to be a
level at which indexes peak, at least short term. TRINQ was pretty
overbought on Wednesday. Early this morning all the exchanges, AMEX, CBOE,
PHLX, PSE all hit the 0.7 level. Unanimity means reversal just like that
Equity C/P peak the other day. Such end of day sentiment peaks prior to or
coincident with prices and gave a clear advance warning this time.
bobr
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, August 02, 2001 7:56 AM
Subject: Re: [RT] Mkt - OEX
>
> Fabulous call Bob,
>
> if you have time, would you please give a narrative description of the
> option data with regard to the SP price chart? Thanks
>
> Michael
>
>
> > When the OEX 5 day historical volatility drops to 5.0 a trading high is
> > nearby. Wednesday's close pushed it down to 5.6 increasing the odds for
> an
> > immanent short trade.
>
>
>
>
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>
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Attachment:
Description: "$C$P.gif"
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