Very interesting put-call ratio chart to S and P 500

Well worth the watch of put vs call ratio with S&P 500. Notice in extreme swings low in the ratio, the market typically falls. (too much optimism).

We are in an extreme state currently of optimism, one I even fell for.

I reduced positions today.

http://www.indexindicators.com/charts/sp500-vs-put-call-ratio-total-1d-sma-params-2y-x-x-10ma/