Monday, September 11, 2017

REVERSAL OF FORTUNE

I was Shocked ! Shocked ! when I saw the stock market futures last night and more so when it opened today. After all the turmoil - domestically and globally of the weekend, and a dismal August for stocks, the next 4-5 weeks are consistently the worst of the year historically. So we're not out of the woods yet, at least for a minor correction - a Recession is probably still 18-24 months away. But when it hits, it will be a doozy as US and global Debt rises exponentially out of control.

Volume was down, due to the 4-day week, breadth was slightly negative ( Advances, New Highs, etc.); most all else was frozen from last week. See below:

SPX  2461 2476
WklyVolume (Bshs). naz/ny…. 7.5/3.3* 8.2/3.6
Specul.Ratio hi=bullish 2.27 2.28
Sentiment: put/call-CBOE  63 57
VIX>50-alltmlow=8.8 12.1 10.1
DeltaMSI-50% MAC crossover 54 51
Advance/Dec-NYSE.. 1227/1839 2210/867
Weekly Net: -612 1343
     Cumulative: 179534 180146nh
Weekly  NYSE hi/low… 280/88 285/115
New Hi's/Low's Nasdaq h/l 300/132 302/133
McClellan  Oscillator 13 46
McClellanSum .+750/-1000 347 267
Newsletter Inv.Intel -Bull 49.5 49.5
Surveys-Tues Bear:-5yrs 19.1 19.1
Wed. AAII  -Bull  29.3 25
Bear  35.7 39.9
US$-WSJ 91.3 92.8
3-box rev Bullish%-  66 66
US equity -ICI Fund Flows weeklate 3.7B
MMF flows Change in $B 11.1B (20B)
MargDebt- top (300M) monthly  JULY:
10-yr Tsy yield hi= stock buying 2.05 2.17
2-yr Tsy Yield: Inflation 1.27 1.35
TIP (ETF) Inflation 115.2 114.2



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