Plunge in put/call ratio dropped big - just an opex Friday fluke?

The CPC and CPCe both registered a new low that looks pretty impressive! It certainly shows an interesting plunge level just reached. Meaning, it shows that sentiment got really hot the last few days (probably along with the QQQQ's looking like they are exceeding that 50% retracement level) - and/or a lot of bear capitulation. From the contrarian standpoint, this is very worrisome for the equities markets!

Below is the CPCE chart, which I like to use because it's focused to equities in particular. These are the daily and weekly, so you can see how significant the level is long-term!