The narrow QQQ-only Put/Call Ratio behaves quite differently from its headline PCR cousin. We take an initial look at this intriguing trading indicator. As we plunge into the second half of this year, the alleged home of the die-hard bulls? fabled Second Half Recovery, one grand question continues to perplex index speculators. Have we just witnessed yet another doomed bear-market rally or the birth of a new cyclical or secular bull market? While the new long-term secular-bull-hypothesis case is unbelievably weak due to the stellar overvaluations still rampant today, strong arguments exist for both the bear rally and medium-term cyclical-bull...