Daily Report : Small options traders establish record bullish bets; Bullish percent index shows growing sell signals

Last week, the smallest of options traders decided to become very aggressive with bets on a further market rally. To a record degree, they positioned themselves for higher prices by buying calls and selling puts, much more than selling calls and buying puts.; In April, there was a surge in buy signals in point & figure charts among stocks in the S&P 500. In the broader NYSE, though, there has been significant deterioration and now fewer than 40% of securities are on buy signals. The recent jump in stocks will reverse some of that damage, but it's enough to detract a bit from April's buy signals.

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