In a classic whipsaw last week, due to the storm closures, the markets experienced a Candlestick Doji on Hallowe'en, followed by huge back to back days going nowhere. As investors and voters wait on tenterhooks for the election results ( hopefully sometime Tuesday night despite east coast problems), markets remain sideways.
It is obviously hard to tell what markets will do based on the results - an Obama victory would keep much of the Fiscal Cliff alive - PPACA, benefits, (Debt), etc., while a Romney victory would see the Bernanke put expire worthless, ending the sugar high equities markets.
Because of the two-day hiatus Volume was low, but still a speculative 2.29:1 ratio of NASD to NYSE; the CBOE equity put/call ratio lessened a bit, but still high (Bullish). Breadth ( Advance to Declines) swung mightily from negative to positive, as did NASD new highs/lows. Newsletter surveys came out despite the storm (Tues. & Wed. results) but diverged widely, as shown below.
The McClellan Oscillator is still negative while its cumulative Summation is headed down to zero - don't expect a new Bull market until it bottoms out well below the zero line, if past is prologue.
Finally, over $22B came out of MMFunds last week.
Here are the numbers:
| Date> |
|
11/2/2012 |
10/26/2012 |
| Indices: |
DJIA |
13093 |
13107 |
| |
NAZ |
2982 |
2987 |
|
SPX |
1414 |
1411 |
| WklyVolume
(Bshs). |
|
|
| NASD/NYSE |
|
5.5/2.4 |
9.0/3.4 |
| Specul.Ratio
hi=bullish |
2.29* |
2.65 |
| nasd/nyse |
|
|
|
| Sentiment: |
put/call-CBOE |
68 |
75 |
| VIX>50-alltmlow=8.8 |
17.6 |
17.8 |
| Advance/Dec-NYSE.. |
1919/1222 |
1151/1998 |
| Weekly Net: |
|
697 |
-847 |
| Cumulative: |
141883 |
141186 |
| Weekly |
NYSE hi/low |
318/87 |
231/113 |
| New Hi's/Low's |
Nasdaq h/l |
169/138 |
117/186 |
| McClellan |
Oscillator |
-19 |
-37 |
| McClellanSum |
.+750/-1000 |
339 |
381 |
| Newsletter |
Inv.Intel -Bull:tues |
41.5 |
41.5 |
| Surveys |
Bear:-5yrs |
27.7 |
27.7 |
|
AAII -Bull :wed. |
35.7 |
29.2 |
|
Bear |
23.3 |
43.1 |
| COT:Change w/w |
large/small (net)k |
1/24. |
(3)/30 |
| CEOinsider |
selling |
13:1 |
55:1 |
| 3-box rev |
Bullish%- |
70 |
69 |
| US equity -ICI |
Fund Flows |
1weeklag |
(1.9B) |
| MMF flows |
Change in $B |
(22.7B) |
.9B |
| MargDebt- top (300M) |
monthly |
287B |
AUG.: |
| ETF:Eqty/ |
Int'l/Bond |
715/270/230 |
AUG.: |
| Assets in |
Billion$$ . |
week |
|
| 2-yr
Tsy Yield: Inflation |
0.29% |
0.31% |
With record numbers of dollars coming out of Money Market Funds, mostly into the crowded trade of short term bonds, anyone who has a minimal knowledge of covered call options and/or an interest in hedging stock market exposure might want to check out: brentleonard.com for an alternative strategy that is low-risk as well as highly rewarding.
For those of you wanting more details and actual trading results, a new book is available for $14.95 at Amazon.com: Zero (IN)Tolerance
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