$SPX - Time to short II?
Last month we suspected $SPX was ready to go down in a major correction. It did not initially, but the upturn is proved to unsustainable. This time, more and more option traders are moving to favor puts. See charts below. Two of the past bull traps (September 08 and April 10) are coincided with the turn of MACD of $CPC/$SPX ratio.
Me !