This week's Sentiment Indicators reflect this tired rolling over in the McClellan Oscillator, back down to 40 from last week's 47 top; Public to NYSE Specialist shorting back down to 2.33 from a record 3.29; NAZ to NY Volume is a high 130 -speculative- ratio; and too many newsletter surveyees are Bullish (AAII at 48.6, I.I. at 47.8).
On the flip side, indicating that the Bull move isn't over, are: DJIA dividend yield increasing to 5.08%; Bullish per cent in a Long trend at 62%; CBOE put/call at a cautious 62 and New Highs screaming at 373 to only 47 New Lows.
Best Sectors, per Barron's Market Lab, are Basic Materials, including Oil, and Consumer Goods and Services. Gold and Silver have rallied the last few days, but are approaching Resistance from previous levels, Bollinger Band tops and MAs.
That's it for now, if you have trouble understanding my esoteric acronyms , initials, etc., check out last week's column for explanations. Also, please feel free to comment with suggestions, alternative successful indicators, or questions
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