M'AIDEZ (MAYDAY)

Today's stock markets were Underwhelmed by the victory in France of Macron over Le Pen. No surprise there, like Brexit and Trump. Although last week hit some new highs, markets are climbing out of Saucer formations moving into June - possibly the next rate hike. The 2-year Treas.rate picked up again into the 1.30s % while the 10-year hit 2.4%. No sign of a flat Yield curve, necessary for a Recession to occur - maybe 4-5 more hikes on the short end. Every decade has an "R", usually @ the zero year - so watch out below !

Sentiment Indicators were mixed - the Adv/Dec difference was a mere 13!, causing the McClellan Oscillator to end at the zero line; New Highs were strong, however. Margin Interest remains HUGE, as does the U S Debt, both of which will squirm when rates rise. Finally, the dollar hit a recent low, per Trump's wishes, which should help Gold.
See below:

Date		5/5/2017	4/28/2017
Indices:	DJIA	21006	20940
	NAZ	6100	6047
	SPX	2399	2384
WklyVolume (Bshs).	naz/ny….	9.9/4.4	9.4/4.8
Specul.Ratio hi=bullish		2.25	1.96
Sentiment:	put/call-CBOE	66	65
VIX>50-alltmlow=8.8		10.5	10.8
DeltaMSI-50%	MAC crossover	60.3	59.9
Advance/Dec-NYSE..		1548/1535	1901/1175
Weekly Net:		13	726
Cumulative:		176813	176800
Weekly	NYSE hi/low…	427/137	544/71
New Hi's/Low's	Nasdaq h/l	429/196	561/138
McClellan	Oscillator	0	8
McClellanSum	.+750/-1000	609	620
Newsletter	Inv.Intel -Bull	58.5	54.7
Surveys-Tues	Bear:-5yrs	17.9	17.9
Wed.	AAII  -Bull	38.1	38.1
	Bear	29.9	31.7
US$-WSJ		98.6	99.0
3-box rev	Bullish%-	71	74
US equity -ICI	Fund Flows	WeekLate	6.8B
MMF flows	Change in $B	1.6B	15.4B
MargDebt- top (300M)	monthly	March	537B
10-yr Tsy yield	hi= stock buying	2.4	2.3
2-yr Tsy Yield: Inflation		1.31	1.27
TIP (ETF)	Inflation	113.7	115.2

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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M'AIDEZ (MAYDAY)