The Put/Call ratio is a red flag tonight . Technically, everything looks set up for a big move tomorrow with the jobs report (one way or the other), but the CPCE ratio is too bullish and has been a fairly good indicator of tops a day or two before it happens. Maybe this is a false flag - I certainly hope so because I am very long at the moment.Predicting a top is very difficult and the ratio flag is contrarian, but I thought that folks ought to be aware that the bulls are overconfident at CBOT. Here is the chart:
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