We updated our ISE and CBOE option charts and found an interesting constellation consisting of a sequence of 3 Extremes which is fairly rare. The only other time we saw a resembling sequence was around the BIG TOP in 2007. We also find it striking that this pattern can be found in both data series.
This should at least taken as a warning and fits nicely in the picture of all the other Extremes we have highlighted yesterday.
The current period develops a special signature which seems to evolve into those decade highlights we will remember in the future.
On the shorter term we have to wonder how many retests the bulls can pull of before they either bounce or fail.
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