Monday, August 12, 2013

Bad Breadth

With stock trading Volume down last week, as expected this vacation time of year, mostly absent were the Buyers, as seen in last week's steady but managed decline. With the starters off this month, the bench players are minding the stores, mostly defensively.

One recent chart I've been watching is the McMillan put/call ratio in Barron's which hit a 12-month (at least) low - a contrary signal, when it turns UP the market should decline in earnest. Sy Harding reports a large number of stocks above the 200 MA (moving average), a Sell signal.

For more commentary, please see my wrapup at:

Here are last week's Sentiment numbers:

8/9/2013 8/2/2013
Indices: DJIA  15425 15658
  NAZ  3660 3689

SPX  1691 1709
WklyVolume (Bshs).

NASD/NYSE   7.9/3.1 8.6/3.6
Specul.Ratio hi=bullish 2.55 2.39

Sentiment: put/call-CBOE  60 58
VIX>50-alltmlow=8.8 13.4 12.0
Advance/Dec-NYSE.. 1074/2109 1603/1587
Weekly Net:
-1035 16
     Cumulative: 151248 152283
Weekly  NYSE hi/low 383/327 563/194
New Hi's/Low's Nasdaq h/l 452/70 535/62
McClellan  Oscillator -32 -4
McClellanSum .+750/-1000 301 480
Newsletter Inv.Intel -Bull:tues 51.6 48.4
Surveys Bear:-5yrs 18.5 19.6

AAII  -Bull :wed. 39.5 35.6

Bear  26.6 25
COT:Change w/w large/small (net)k 10/15 10/13
COT:gold  comm.hedg long-short.000 -54 -26
CEOinsider selling 84:1 72:1
3-box rev Bullish%-  84 84
US equity -ICI Fund Flows 1weeklag (.9B)
MMF flows Change in $B 7.6B (9.6B)
MargDebt- top (300M) monthly  JUNE 377B
ETF:Eqty/ Int'l/Bond JUNE 851/321/244
(Monthly  B$$ .)

2-yr Tsy Yield: Inflation 0.30% 0.30%


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