Looking up the word "Congress", it comes from the Latin congressus, or congredi, with meanings including coming together and coitus (OMG).
Previous columns have mentioned Hegel's use of Dialectic - where Thesis meets Antithesis to form Synthesis, taking the best ideas from both. Perhaps we should rename Congress: COMITY.
Last week saw the stock market pause on its 8th year ann'y after the Huge Trump rally. Most Indicators stayed the same direction, only worse. Breadth was bad, as Advances fell behind Declines and New Lows rose on the NYSE and Nas. My fave Indicator failed - the McClellan Oscillator falling below -50 (usually a BUY signal on Monday.
Danger signals remain: Large (record) Margin Interest, I.I. Bulls 3:1 over Bears, and Insider Selling is getting attention. A rare INFLOW to MMFs, most since last Dec. Safe money looks to the 2-year Treas, now 1.37%!
Here are the numbers:
| Date | 3/10/2017 | 3/3/2017 | |
| Indices: | DJIA | 20902 | 21005 |
| NAZ | 5861 | 5870 | |
| SPX | 2372 | 2383 | |
| WklyVolume (Bshs). | naz/ny…. | 9.2/4.2 | 10.2/4.8 |
| Specul.Ratio hi=bullish | 2.19 | 2.13 | |
| Sentiment: | put/call-CBOE | 62 | 61 |
| VIX>50-alltmlow=8.8 | 11.7 | 10.9 | |
| DeltaMSI-50% | MAC crossover | 58.5 | 66.7 |
| Advance/Dec-NYSE.. | 678/2426 | 1438/1652 | |
| Weekly Net: | -1748 | -214 | |
| Cumulative: | 173245 | 174993 | |
| Weekly | NYSE hi/low… | 162/169 | 474/75 |
| New Hi's/Low's | Nasdaq h/l | 236/166 | 490/132 |
| McClellan | Oscillator | -61 | -22 |
| McClellanSum | .+750/-1000 | 440 | 768 |
| Newsletter | Inv.Intel -Bull | 57.7 | 4:1.63.1 |
| Surveys-Tues | Bear:-5yrs | 17.3 | 16.5 |
| Wed. | AAII -Bull | 30 | 37.9 |
| Bear | 46.5 | 35.4 | |
| US$-WSJ | 101.4 | 101.3 | |
| 3-box rev | Bullish%- | 76 | 79nh |
| US equity -ICI | Fund Flows | WeekLate | 5.8B |
| MMF flows | Change in $B | 10.1B | (2B) |
| MargDebt- top (300M) | monthly | 513Bnh | |
| 10-yr Tsy yield | hi= stock buying | 2.6 | 2.5 |
| 2-yr Tsy Yield: Inflation | 1.35 | 1.3 | |
| TIP (ETF) | Inflation | 113 | 114.1 |
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
Subscribe in a reader
No comments:
Post a Comment