4 DAYS AWAY:

My friend and colleague, Prof. Charles Bassetti likes to cite the 4 days away trend - if an up or down move is 4 days in one direction, it is usually going to last much longer. Looking at the S&P500 over the past several months, that is certainly the case, as it was last week.  Although today's rally is a bit underwhelming, it did stop the descent at 3 days - time will tell if the 5% correction was enough. Pete Najarian also mentioned the fact that a/o January expiration a whole lot of LEAP puts (including mine) expired.

Extremes last week include the VIX, which leapt up 10 points, from 17 to 27 on the violent downswing of the markets; the CBOE put/call went to an extended 68 - also Bullish for the market was the McClellan Oscillator, falling to -79; and MMF flows were hugely negative.

Here are the numbers:

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	10172	10609	14093	6626
Nasdaq:	2205	2288	2805	1114
S&P 500:	1091	1136	1561	683
CBOE Eq. put/call:	68	56	96-10/08	46-1/03
VIX:	27.3	17.9	90	8.8
McClellan Osc:	-79	-10	108	-100
McClellan Sum:	930	1064	1568	-1514
Newsletter Surveys
InvestorsIntel.Bull:	52.2	53.4	63	22.21
InvestorsIntel.Bear:	18.9	15.9	54.4	16
AAII Bull:	40.0	47.4	n/a	n/a
AAII Bear:	34.7	26.9	n/a	n/a
Nova/Ursa Mutual Funds:	0.79	0.73	2.2	0.56
US Equity Flows	1 week lag	2.2B
Money Market Flows	-46.0B	-21.7B
ETF equity:Monthly Totals	Nov 738B	Oct 591B
Baltic Dry Index:	3170	3235	11700	663
Bullish %:	88	83	88	2
Insider Corporate Sellers:	14:1	38:1	108:1	2.4:1

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4 DAYS AWAY: