US PCR Signals its very oversold

25 Eyl 2023

The CBOE Put/Call ratio shows too many Puts being traded relative to Calls, which is akin to previous market lows seen at similar readings. This can mean that the S&P is extremely oversold short term and due for a bounce in the next few days that can take us back to the highs. Patience is needed to see this play out. An actual price reversal should be watched out for.