The market rallied again into the close, putting in a solid day. Volume again was nothing to write home about, but I’ll take the positive price action regardless.I continue to look for a tradeable bottom. I have commented several times on the oversold nature of the market, the rise in pessimism, the spike in volatility, and the high readings in the put/call ratios.Today, the 10-day CBOE put/call ratio hits its 2nd highest reading on record (1.24). The first time I saw a reading near these levels was in May 2006. The market bounced nicely after this [...]
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[Source: The Money Blogs]
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