SPY Put-Call Ratio Crashes To Bottom Bollinger Band

Published 02/22/2015, 12:28 AM
Updated 07/09/2023, 06:31 AM

SPY Daily December 2013-Present

The SPY Put-Call Ratio Crashed to 1.37 at its Bottom Bollinger Band® on Friday

The SPDR S&P 500 ETF (ARCA:SPY) put-call ratio crashed over Thursday and Friday of last week from the ratio’s top Bollinger Band to its bottom band, or 2.50 to 1.31, on another modest rise in open interest.

SPY put volume rose by 49% on Friday. SPY call volume rose by 139%.

In other words, despite the little melt-up to a new high on Friday, bears haven’t backed down at all from earlier last week. Instead, new bulls have jumped into the market.

The crash to the bottom Bollinger Band is bearish for the early part of the coming week. There’s a megaphone on the ES chart that requires a retrace to at least 2092.50 (or a serious attempt at it).

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