It feels like a big lie. I can't help but think that way i must have read it somewhere. Anyways here we go.
Yesterday we had 373 new highs and 2 new lows bringing the ratio to .0054, this is the lowest i have seen in a long time and is extremely rare. I believe that a yearly high or at least a 6 month high was made yesterday.
Richard Russell's PTI indicator was 52, another very rare feat. I use this indicator as an overbought over sold indicator. This print is in the RED overbought range. Meaning extreme caution.
Call buying was insane. Posting huge volumes with an equity only putt call ratio of .43, another rare number.
All in all yesterday was RARE and shorting strength is a good strategy from here on out.
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