Equities ISEE Call/Put Ratio Jumps to 2.89 as VIX Holds at 16
Updated
Updated · TheStreet · Aug 20
Equities ISEE Call/Put Ratio Jumps to 2.89 as VIX Holds at 16
1 articles · Updated · TheStreet · Aug 20
Summary
The equities ISEE call/put ratio climbed to 2.89, its highest since June 2, a level the report says has previously coincided with market highs rather than fresh upside.
Other sentiment gauges also point to complacency: NAAIM exposure stands at 94, Investors Intelligence shows 54.7% bulls versus 15.1% bears, and the VIX remains subdued at 16 despite the pullback.
That muted fear is showing up in trading action as well, with Nasdaq downside volume only 52%, suggesting selling pressure still lacks the kind of washout often seen near durable lows.
Banks remain a key concern because the Bank Index is down on the month, has broken its short-term uptrend, and closed below its 50-day moving average for the first time since April.
The report argues the broader market is still not oversold and says the earliest such condition may be about a week away, leaving room for further downside even if indexes try to hold near their 50-day averages.