The options market is showing a lot of complacency today, with very low put call ratios on a weak up day. Usually you need at least up 1% or a strong uptrend to get these kind of low put call ratios. It's almost as if a weaker dollar is all that's needed to get traders positive. Along with the layers of resistance from 1332 to 1340, it is looking like a high reward low risk zone for shorts here.
I would agree with the short from here. Asian markets up 2% and we can only muster 1/2%...no one belives the rally.
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