Monday 7 January 2008

Put Call Ratio and Emini Oscillator Update

Emini oscillator update today. The Emini closed down 1.50 points at 1,421.50 on large volume, 2.3 million contracts. We got a Stopping Volume pattern with higher volume but lower range than yesterday, showing professional buyers are coming in.

Emini Oscillator Image

Emini Oscillators

The chart above shows 3 of my favorite Emini oscillators. They are all non-correlated and only one is based on price. The oscillators measure:

  • Trading Index TRIN (Better TRIN Oscillator)
  • Put Call Ratio (Better PCR Oscillator), and
  • Professional end-of-day activity (Better Smart Money)

As you can see, all 3 Emini oscillators are over-sold, with readings of -193, -181 and -98. However, none of the oscillators have turned up yet.

A break above today's high of 1,431,50 would signal the end of this downswing and a turn in the Emini oscillators. Good luck with your trading.

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