Put to Call ratio lowest close in 4 years

Yes, the Put to Call ratio closed today at 0.56, the lowest level in 4 years, as you can see from the chart above. When the Put to Call ratio is at an extreme low level, it can be a Sell signal. When it is at extreme high levels it can be a Buy Signal. It can also be a signal at this low level to increase short positions as a hedge. Maybe finally we are approaching the long awaited correction, or at least a leg down for a change. It was back in March 2006 that the Put to Call ratio was lower than today's close. Then it was as low as 0.35