Pls check out this graph of the Equity Options Put/Call Ratio (Proxy for Position-taking / Speculation) which has reached a similar degree as last May, especially if you watch it through the lens of the Deviation Bands (as marked in the graph)....
The next couple of sessions will determine whether the rally will pause or break.
Pls also compare with http://reflections-of-reality.blogspot.com/2009/05/scenario-analysis.html
The Put/Call Ratios are just a different perspective or angle of the same think and should support our "CSI" mission on the traces of the ELEPHANTS.....
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