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Bob,
What do you think about the market direction in relation to PC readings?
In other words the PC ratio is bearish but it is bearish after a market
downleg. I wonder how significant this is. I would say if the market were
overbought then the PC readings of late would definitely be a matter of
concern for the bulls. But now the market is in no way overbought (short
term) and I am not sure exactly what that would imply at this juncture.
My best guess is that with a bearish PCR and an oversold market we will get
a very strong move next week with the direction indicated early on.
Kind regards,
Yorker
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