CYCLE-ANALYSIS:

A recent IBD chart illustrated the difference between Buying $10,000 of the DJIA from Nov.1 to Apr.30 ( and switching to Treasuries for the remainder of the year) versus Buying the DJIA from May 1 to Oct.31. The resulting returns over the last 55 years were $492,060 and $9,682 ( or a $318 loss), respectively! Guess what? We're almost there; and the average Bull market of around 3 years is well into the third year, and looking a little tired lately.
The Advance/Decline on the NYSE went negative for the first time in awhile; the complacent VIX is at another new recent low of 11.1; Nasdaq Volume to NYSE is about at parity; but most spectacular of all was the change in the Public to Specialist Shorting ratio down to 1.18, from 1.96 a week ago. This narrow range saw .69 as its 5 year low in March, '00 - a secular top - and a high of 2.58 at last August's low. All other Indicators fall within normal range.