The DJIA and S&P 500 hit all time record point gains for a January; the NASDAQ reached an 11-year high last week. The 2011 high for the SPX was 1365 - it closed Friday at 1344.
My cumulative Advance/Decline indicator continues to make new all time highs; NAZ Volume to NYSE indicates speculation; the VIX is at a relative extreme low of 17.
For only the second time in many months equity flows have increased into mutual funds, and MMF outflows were a huge $21B. Talking heads are glowing with a global economic recovery, but China is slowing, as is Europe, and the Baltic Dry Index hit a multi-year low last week at 651 -cut in half from its high.
Usually reliable Bullish % and McClellan Oscillator are also at high levels - large commodity traders are shorting, while small traders are long the SPX futures. Insider (CEO) Selling is fairly but consistently high in recent weeks. Finally, AAII Bears are coming of near record "teen" lows.
Here are the numbers:
| Date> | 2/3/2012 | 1/27/2012 | |
| Indices: | DJIA | 12862 | 12660 |
| NAZ | 2905 | 2816 | |
| SPX | 1344 | 1316 | |
| NASD/NYSE | WklyVolume (Bshs). | 4.4/9.6 | ..4.0/9.1 |
| nasd/nyse | Specul.Ratio hi=bullish | 2.18 | 2.28 |
| Sentiment: | put/call-CBOE | 60 | 62 |
| Barron's | VIX>50-alltmlow=8.8 | 17.1 | 18.5 |
| Advance/Dec-NYSE.. | 2496/665 | 2251/905 | |
| Weekly Net: | 1831 | 1346 | |
| Cumulative: | 132567 | 130736 | |
| Weekly | NYSE hi/low | 526/32 | 367/25 |
| New Hi's/Low's | Nasdaq h/l | 341/39 | 200/39 |
| McClellan | Oscillator | 57 | 47 |
| McClellan Sum | .+750/-1000 | 1236 | 1050 |
| Newsletter | Inv.Intel -Bull:tues | 48.9 | 50 |
| Surveys | Bear:-5yrs | 29.8 | 28.7 |
| AAII -Bull :wed. | 43.8 | 48.4 | |
| Bear | 25.1 | 18.9 | |
| COT:Change w/w | large/small (net)k | (12)/42 | (2)/16 |
| CEOinsider | selling | 26:1 | 28:1 |
| BalticDryIndex | GlobalEcon | 651 | 753 |
| 3-box rev | Bullish%- | 82 | 80 |
| US equity -ICI | Fund Flows | 1 wk lag | .8B |
| MMF flows | Change in $B | (21B) | (15B) |
| MargDebt- top (300M) | monthly OCT. | 267B | |
| ETF:Eqty/Int'l/Bond | million$$ OCT. | 618/245/184 | |
| 2-yr Tsy Yield: Inflation | 0.24% | 0.22% | |
| Euro futures | 1 yr.offset-CommHedg | 4.89 | 4.82 |
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