Barron's also notes that it is the Individual that is driving the market now (not a good sign), rather than Institutions. Bulls at II (Investors' Intelligence) have risen to a 4 to 1 ratio over Bears (see below), not seen since 1987- a year that will go down.....
Prominent in last week's Sentiment/Breadth data was the rise (monthly) in Margin Interest to new highs, at 513B. As reported earlier, if/when a crash comes, higher rates will cost more to borrow as panickers and AI machines could cause a cascade of Selling, like 1987..
That said, Breadth and momentum still seems strong on Trump's promises.
Here are the numbers:
| Date | 3/3/2017 | 2/24/2017 | |
| Indices: | DJIA | 21005 | 20821 |
| NAZ | 5870 | 5845 | |
| SPX | 2383 | 2367 | |
| WklyVolume (Bshs). | naz/ny…. | 10.2/4.8 | 7.3/3.6 |
| Specul.Ratio hi=bullish | 2.13 | 2.03 | |
| Sentiment: | put/call-CBOE | 61 | 64 |
| VIX>50-alltmlow=8.8 | 10.9 | 11.5 | |
| DeltaMSI-50% | MAC crossover | 66.7 | 71.9 |
| Advance/Dec-NYSE.. | 1438/1652 | 1763/1334 | |
| Weekly Net: | -214 | 429 | |
| Cumulative: | 174993 | 175207 | |
| Weekly | NYSE hi/low… | 474/75 | 449/41 |
| New Hi's/Low's | Nasdaq h/l | 490/132 | 496/95 |
| McClellan | Oscillator | -22 | 2 |
| McClellanSum | .+750/-1000 | 768 | 812 |
| Newsletter | Inv.Intel -Bull | 4:1.63.1 | 61.2 |
| Surveys-Tues | Bear:-5yrs | 16.5 | 17.5 |
| Wed. | AAII -Bull | 37.9 | 38.5 |
| Bear | 35.4 | 32.1 | |
| US$-WSJ | 101.3 | 101.1 | |
| 3-box rev | Bullish%- | 79nh | 77nh |
| US equity -ICI | Fund Flows | WeekLate | 3.4B |
| MMF flows | Change in $B | (2B) | 5.1B |
| MargDebt- top (300M) | monthly | 513Bnh | 490B |
| 10-yr Tsy yield | hi= stock buying | 2.5 | 2.3 |
| 2-yr Tsy Yield: Inflation | 1.3 | 1.15 | |
| TIP (ETF) | Inflation | 114.1 | 114.9 |
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
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