We have followed the Equity Put-Call / SPX chart for many months in NFTRH and its uptrend throughout 2011 has indeed attended a topping pattern and initial plunge in the stock market, just like it indicated.
Now the market is forming a very similar recovery pattern to that of early 2008 (blue circles) and in a real cool feat of symmetry, is finding support at a very similar looking cluster (yellow shaded) to the one the 2008 disaster found before rising to the red neckline zone, pre-crash.
Now, it would be nice to see a rise to the red zone and then... well, technically at this juncture, it ain't lookin' too bullish. I think the CPCE has done its job and I'll probably scrap it from here on out in favor of other items, like old friend the Gold-Silver ratio.
http://www.biiwii.blogspot.com
http://www.biiwii.com
Now the market is forming a very similar recovery pattern to that of early 2008 (blue circles) and in a real cool feat of symmetry, is finding support at a very similar looking cluster (yellow shaded) to the one the 2008 disaster found before rising to the red neckline zone, pre-crash.
Now, it would be nice to see a rise to the red zone and then... well, technically at this juncture, it ain't lookin' too bullish. I think the CPCE has done its job and I'll probably scrap it from here on out in favor of other items, like old friend the Gold-Silver ratio.
http://www.biiwii.blogspot.com
http://www.biiwii.com
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