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The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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December 25, 2020

McClellan Oscillator

Dec 25 2020

Screen Shot 2020-12-25 at 8.45.31 AM

The oscillator made a lower high in November and has dropped since.

NYSE

Screen Shot 2020-12-25 at 8.46.47 AM

MYSE is similar but the PMO is peaking now

 

This continues to suggest some sort of downturn lies ahead, perhaps as soon as the Inauguration.

Put Call Ratio

Screen Shot 2020-12-25 at 8.52.09 AM

Puts are a hedge against a decline.  A low put call ratio indicates a total lack of fear.  A high ratio indicates masssive fear.

The current low in the ratio reflects the confidence in the new highs in the market.  Contrast this with the mood at DJIA 18,000 in late March, then the put call ratio soared.

Near no one thinks the markets may be topping  out but that is clearly the message of the McClellan Osc and Summation Index.

Posted at 09:54 AM in Socionomics, Stock Market |

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