when is capitulation day?

Sentimentrader's ROBO (retail only buy on open only) put/call ratio now slowly approaching levels that were reaching during previous major lows. Obviously retail traders were rather complacent during the recent market decline, until now:

2zhjcsl.jpg

http://www.sentimentrader.com/subscriber/charts/WEEKLY/PC_ROBO.htm
 
Something to be aware of is that 1225.34 was a .618 fib ratio of the previous leg ( before this one ) down.

Actual low today so far: 1225.01
 
we need some serious big movements for this capitulation to occur. the market jsut refuses to let that happen, the slow grind towards 10k continues.. :mad:
 
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