Monday, October 31, 2016


Nothing is Scary with this stock market - neither today nor for the past few weeks; actually since their all time highs in August, The Dow 30, S&P 500 and Nasdaq have been moving sideways, with a slight downward cast. Signs of technical weakness are starting to show up in the Sentiment/Breadth Indicators, however:
The recently added Delta MSI (3600 stocks breaking Moving Averages) broke through its heretofor bullish line two weeks ago for the first time (below 50) a Bearish sign; the Nasdaq New Lows vs. Highs took the lead for the first time since early summer, although the NYSE has not yet. The McClellan Summation Index is poised to break down through the Zero line, as its Oscillator maintains its negative breadth action.
Finally, the Dollar and Bond yields are starting to ramp up, with the rate hike imminent at December's FOMC meetup.
Here are the numbers:

Date> 10/28/2016 10/21/2016
Indices: DJIA  18161 18145
NAZ  5190 5257
SPX  2126 2141
WklyVolume (Bshs). naz/ny…. 8.6/4.5 7.7/3.9
Specul.Ratio hi=bullish 1.91 1.97
Sentiment: put/call-CBOE  66 59
VIX>50-alltmlow=8.8 16.2 13.3
DeltaMSI-50% MAC crossover 45% 48%
Advance/Dec-NYSE.. 887/2252 1968/1151
Weekly Net: -1365 835
     Cumulative: 169598 170963
Weekly  NYSE hi/low… 226/128 185/70
New Hi's/Low's Nasdaq h/l 239/257 165/190
McClellan  Oscillator -45 -5
McClellanSum .+750/-1000 26 135
Newsletter Inv.Intel -Bull 47.1 42.9
Surveys-Tues Bear:-5yrs 23.1 23.8
Wed. AAII  -Bull  24.8 23.7
Bear  34.1 37.8
US$-WSJ 98.3 98.6
3-box rev Bullish%-  66 61
US equity -ICI Fund Flows WeekLate (4.5B)
MMF flows Change in $B 16.1B (13.5B)
MargDebt- top (300M) monthly  501B
10-yr Tsy yield hi= stock buying 1.85% 1.74%
2-yr Tsy Yield: Inflation 0.86% 0.83%
TIP (ETF) Inflation 116 116.1

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