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From panic to euphoria: is the tide turning?

What a week we just had! The NASDAQ 100 rallied 8.69%, with several commodities showing similar performance as palladium was up 11.28%, cocoa added 9.38%, platinum charged 8.66% higher, and copper surged 6.28%. Even gold shined, as the yellow metal returned 5.82% on the week.

A dramatic U-turn in equity options flows

We saw the CBOE equity put call ratio hit 1.3 before collapsing down to 0.55. That reading of 1.3 was the highest since 2008 during the Great Financial Crisis. Meanwhile the peak to trough drop was both dramatic and rapid, one of the largest I've ever seen in such a short period of time. Does this mean we have an all clear signal?

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