Bobby, OEX dollar put volume reached a second consecutive all time low today...that is truly remarkable on a 1 bn share day on the NYSE and a 1,7 bn. share day on the NAZ.
consequently the Bollinger OEX PVI reached an extreme reading of 0,23. that is very rare, especially if one considers that the most recent all time low (before yesterday's and today's)in OEX dollar put volume occurred on the Friday before expiration week, and is thus included in the PVI calculation.
Rydex ratios continue to hover very close to all time low territory...
the ratio of individual equity call open interest vs. index option put OI (an indicator devised by William Hueb) has probably reached its most extreme value ever, as index put OI has faltered dramatically post expiration.
another observation i have made is that many of the economically sensitive (ex tech) sector indices like the cyclical, chemicals, paper, automotive, transportation, banks, etc. are either weak all of a sudden or have in some cases actually gone into free-fall. as of yet the major indices mask this quite effectively.
remarkably, the S&P 400 mid-cap index has reached a new all time high today, unconfirmed by any other major index.
oh yes, Arch Crawford is calling for a big rally....
regards,
hb |
