The analysis done here shows extreme complacency in the market which is indicating a top could be forming. When everyone is bullish you have to be worried.
All in the video, I cover a few of the sectors and point out this area has been tough resistance for the market in the past. Noone seems to be expecting more problems with the banks, which to me is sort of strange as we don't know the full fall out yet. Good luck tomorrow - FOMC at 2pm and 2:30 press conference!
The put/call ratio is at extreme levels which is reflecting a very pessimistic sentiment in the market. Typically, this indicator is to be used as a contrarian signal which means some sort of a major bottom could be forming over the next couple weeks.
The PUT/CALL ratio is once again up to pretty elevated levels. Considering that the price has dropped significantly into demand zones, that too in a major earnings week is a good time to go for a contra play and bet on a short term bounce.
I've done an analysis of a very popular indicator which measures the sentiment of the market. The takeaway is that people have started to worry but neither has the price dropped enough and nor is there a significant level of fear in the market. I am going to wait before buying. Appreciate your feedback!