Sunday, June 9, 2013


J.A.S.O.N - , abbreviations for the months June until November, represent the worst semi-annual cycle for investors. In this month's column:

I discuss the recent TSAA/MTA joint Technical meeting at Bloomberg, featuring Garrett Jones.
 Although he is calling for an imminent huge crash in the near future, there are many mixed signals from the Sentiment Indicators:
 The McClellan oscillator is still at minus levels, despite the runup on Friday - since the overall week's Advance/Declines were again negative, for the 3rd week in a row. Also on the McClellan chart is a longer term signal of the 5% - 10% line bottoming out and turning upward, just as it did in December. The CBOE put/call ratio at 66 is also high (but CEO Insider Selling remains high as well - as in Armageddon outta here!)
 Another rarity last week was the NYSE new highs being outnumbered by new lows. Both domestic and global money flows are enigmatic, some setting records (global), and a 7 month high withdrawal of funds from U S equity funds. Here are the numbers:


6/7/2013 5/31/2013
Indices: DJIA  15248 15115
  NAZ  3469 3455

SPX  1643 1630
WklyVolume (Bshs).

NASD/NYSE   9.0/3.9 7.1/3.3
Specul.Ratio hi=bullish 2.31 2.15

Sentiment: put/call-CBOE  66 59
VIX>50-alltmlow=8.8 15.1 16.3
Advance/Dec-NYSE.. 1447/1717 896/2277
Weekly Net:
-270 -1381
     Cumulative: 151613 151883
Weekly  NYSE hi/low 203/343 408/224
New Hi's/Low's Nasdaq h/l 334/74 398/58
McClellan  Oscillator -40 -81
McClellanSum .+750/-1000 515 893
Newsletter Inv.Intel -Bull:tues 45.8 52.1
Surveys Bear:-5yrs 20.8 19.8

AAII  -Bull :wed. 29.5 36

Bear  38.9 29.6
COT:Change w/w large/small (net)k (5)/21 1/24
CEOinsider selling 35:1 34:1
3-box rev Bullish%-  82 88
US equity -ICI Fund Flows 1weeklag (1.7B)
MMF flows Change in $B (2.5B) 12.2B
MargDebt- top (300M) monthly  APR. 384nh
ETF:Eqty/ Int'l/Bond APR. 854/355/258
Assets in  Billion$$ .

2-yr Tsy Yield: Inflation 0.31% 0.30%

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