Monday, August 28, 2017


A week before Labor Day, everyone, including global economists at Jackson Hole, seems to be on vacation - with both NYSE and Nasdaq Volume below normal levels. However, the recent market decline has reversed, as has the NYSE Hi/Lo reading. The AAII Bull/Bear ratio inverted to the Bear side (Bullish for stocks); the Dollar hit a new recent Low, and MMF inflows continue to expand, as they leave equity funds and ETFs. But Margin Debt leapt back to all time highs, with low interest rates. Not a good sign for when rates rise again, just as with the national debt of $20T !!
Here are the numbers:

Indices: DJIA  21813 21674
NAZ  6265 6216
SPX  2443 2425
WklyVolume (Bshs). naz/ny…. 7.6/3.5 9.0/3.9
Specul.Ratio hi=bullish 2.17 2.31
Sentiment: put/call-CBOE  61 71
VIX>50-alltmlow=8.8 11.3 14.3
DeltaMSI-50% MAC crossover 48 51
Advance/Dec-NYSE.. 2126/944 1386/1678
Weekly Net: 1182 -292
     Cumulative: 178803 177621
Weekly  NYSE hi/low… 207/203 164/245
New Hi's/Low's Nasdaq h/l 152/222 147/282
McClellan  Oscillator 8 -49
McClellanSum .+750/-1000 172 241
Newsletter Inv.Intel -Bull 48.1 50.5
Surveys-Tues Bear:-5yrs 18.3 18.1
Wed. AAII  -Bull  28.1 34.2
Bear  38.3 32.8
US$-WSJ 92.5 93.4
3-box rev Bullish%-  65 54
US equity -ICI Fund Flows weeklate (11.2B)
MMF flows Change in $B 29,4B 12.6B
MargDebt- top (300M) monthly  550B
10-yr Tsy yield hi= stock buying 2.17 2.2
2-yr Tsy Yield: Inflation 1.33 1.31
TIP (ETF) Inflation 114.1 114

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