6 Charts Warn Market Top 预警市场见顶的6个图表

Equity Put/Call ratio near extreme low level which indicates investors are too aggressive in betting the market up. This usually happens when market is ready to turn down.

Transportation index broke below 20 and 50 day moving averages, its trend is now down. Historically, transportation index leads Dow Jones Industrial Index in trend.

The tech heavy Nasdaq Composite is making a very bearish Triple Top pattern.

Volatility Index ($VIX) is at extreme low level.  sentiment is too bullish to sustain. Stock market could turn down at any moment.

S&P 500 PE is now at 39, 3rd highest in history. It may start to normalize. Normal PE is around 15.

The S&P 500 has surged 94% since March 2020 low. It has gone up too much too fast and is hard to see  much room to go up.

股票看跌/看涨期权比率在极低水平，表明投资者押注市场上升过于激进。 这通常发生在市场准备下跌时。

运输指数跌破20日和50日均线，目前呈下跌趋势。历史上，运输指数在趋势上通常领先道琼斯工业指数。

科技股含量高的纳斯达克综合指数正在形成非常看跌的三重顶形态。

波动率指数（$VIX）处于极低水平。 情绪过于乐观，将无法维持。 股市随时可能下跌。

标准普尔 500 指数 PE 现在是 39，是历史上第三高。 它可能会开始正常化。 正常PE在15左右。

自 2020 年 3 月的低点以来，标准普尔 500 指数已飙升 94%。 它上升得太多太快了，很难有太多的上升空间。