Tuesday, December 27, 2016


Odds are, despite Dark Pools making up half the stock market Volume these days, that the usual final week will pass us through the 20,000 mark on the DJIA, even with a four-day week. After that, I do not see much of a strong rally in 2017.
One reason is that so many $$ are going into Index ETFs, that it is lifting the bad/weak members of that Index along with the good, and could weaken the rally. Most Indicators below were Bullish, short term, except for the early week newsletter Bull/Bear ratios. Nasdaq Volume was strong, yet overall Volume down; stocks on BUY signals up; equity flows from MMFs good.

 Have a Great New Years!!

Date   12/23/2016 12/16/2016
Indices: DJIA  19933 19843
  NAZ  5462 5437
SPX  2263 2258
WklyVolume (Bshs). naz/ny…. 7.5/3.5 11.0/6.2
Specul.Ratio hi=bullish 2.14 1.77
Sentiment: put/call-CBOE  69 58
VIX>50-alltmlow=8.8 11.4 12.2
DeltaMSI-50% MAC crossover 69% 70%
Advance/Dec-NYSE.. 1815/1289 1045/2063
Weekly Net: 526 -1018
     Cumulative: 171190 170664
Weekly  NYSE hi/low… 314/68 475/182
New Hi's/Low's Nasdaq h/l 457/149 564/153
McClellan  Oscillator 9 4
McClellanSum .+750/-1000 466 403
Newsletter Inv.Intel -Bull 59.8 59.6
Surveys-Tues Bear:-5yrs 19.6 19.2
Wed. AAII  -Bull  44.6 44.7
Bear  29.2 32.3
US$-WSJ 102.9 102.8
3-box rev Bullish%-  70 71
US equity -ICI Fund Flows WeekLate 19.0B
MMF flows Change in $B (20.8B) (3.9B)
MargDebt- top (300M) monthly  484B
10-yr Tsy yield hi= stock buying 2.54% 2.59%
2-yr Tsy Yield: Inflation 1.20% 1.26%
TIP (ETF) Inflation 112.5 111.2

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