Monday, July 18, 2011


Last week's sentiment indicators are giving  a mixed picture on the direction of the market - confusion of the debt ceiling is driving money out of equity mutual funds and back into MMFunds, even though they are reported to have European securities in them, for slightly enhanced yields! Risk/Reward?

The usually reliable CBOE put/call ratio at 71 assumes a higher market, possibly after the resolution of the above; but newsletter surveys are complacent and getting moreso; key officers' Insider Selling is still high, with almost no Buying.

Also negative FOR the market, Bullish % is high and COT (commitment of Traders) has smart money still shorting, with small speculators long. A sustained break below 1260 S&P 500 would make me change my Bullish stance for year-end.

S&P 500:131613431561683
CBOE Eq. put/call: 716296-10/0846-1/03
McClellan Osc:(11)49.9108(123)
McClellan Sum:4975241568(1514)
           Newsletter Surveys

AAII Bull:
AAII Bear:
US Equity-1 week lagn/a(4.5B)
Money Market Flows9.7B3.9B

Baltic Dry Index:1367145311700663
Bullish %:
Insider Corporate Sellers:42:158:1235:12.4:1

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