Monday 4 February 2008
Put Call Ratio Oscillator Turns Down
The Put Call Ratio and TRIN Oscillators turned down today. The chart below shows the Better Put Call Ratio Oscillator has been overextended for a while, but finally turned. Similarly, the Better TRIN Oscillator has turned after a false "wiggle" 6 days ago.
Put Call Ratio Oscillator Turns
However, this latest signal is unconvincing - at the moment. The problem is that today's down close was on low volume - 1.2 million Emini contracts. The major indices (Dow, NASDAQ and S&P500) were also down on low volume. This is more like a "test" down day to see if supply is present. Let's see if we get any follow through tomorrow.
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