This market has been in a downward decline for weeks that started with the Jackson Hole, Wyo., Federal Reserve Symposium, negative U.S. Consumer Price Index (CPI) numbers, Federal Open Market Committee (FOMC) raising interest rates, and Federal Reserve Chairman Jerome Powell talking tough.
The bears have been winning and basking in the glory. But as we all know, the pendulum swings from side to side. We are starting to see that things are getting pretty heavy on the short side and the put/call ratio is as high as it’s ever been.
This pendulum won’t matter ‘till it matters, but something may be warming up.
Let’s take a look at the this movement:
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