The Market Message of the Midterms

I really liked Ari Wald’s weekly chart book for Oppenheimer this weekend. Ari is arguing that the put/call ratio has jumped to a pessimistic extreme auguring well for a short-term buying opportunity. He does not believe the downturn in market breadth (NYSE advance-decline line) has put in enough time to serve as confirmation that the top of the 2016-? cyclical rally has peaked. For my Chart o’ the Day, here...

source https://thereformedbroker.com/2018/10/21/the-market-message-of-the-midterms/