The stock market, as measured by the Standard & Poor's 500 Index
($SPX), sold off for a couple of days and then rebounded quickly to
new all-time intra-day and closing highs. However, sell signals and
overbought conditions abound, so all is not bullish.
With $SPX making new all-time highs, its chart is bullish, and
the trend of the market is higher. Price is the most important indicator.
That has not changed.
Both of the equity-only put-call ratios have rolled over to sell