ARE H&S TOPS RELIABLE?:

By that I mean the talking heads and other experts on TV. Most are talking about the Sea of Liquidity driving the global markets, the most recent fact being the $2 Trillion of foreign Soveriegn Investment Funds, separate from Gov't Reserves which are mandated in U.S.Treasuries up until now. These extra monies, mostly in oil countries and Japan, could be moved into global equities for higher returns.
So far, the U.S. markets have underperformed global ones, but with the 10-year Treasury above 4.75% (above where Michael Santoli cites stocks have faltered the past 3 years), the stocks to bond ratio weakens.
Still, only the longer term Indicators seem toppy - Bullish per cent at 78, Market Vane at 73, even the Inv.Intell. ratio is high at 54 to 20 (the AAII Bull/Bear ratio just inverted again) . Most are mid-range with positive readings from the McClellan Osc. bouncing up off the -50 level (oversold); Birinyi's bloggers have inverted the I.I. numbers (see above); short interest is at record highs and Public vs. Specialists are wary.
Here are the numbers:

Mktsentiment. 5/25/2007......5Yr.HI........ LOW

DJIA ………. 13507...........13556...........7286
Nasdaq………. 2557............2572.............1114
S&P500…….. 1516............1522............776
CBOE Equity put/call 61............87-5/04........46-1/03

VIX ………. 13.3..........44 9/02........10.0-7/05

ISEE-call/put ……. 117...........299-12/04.......58 - 3/9/07
(>200/Bearish)

McClel Osc……………-26...............91-5/04.........(81)-5/04
McClelSum…………… 563..........1568-6/03.......(726)-5/04

Newsletter Surveys:
Inv.Intel -Bull:…..…. ..54.3...........62.9-12/04......35-6/06
Bear:………… 20.7 .........38.2-3/03.......16-6/03

AAII-Bull/Bear ………37.4/38.6....n/a n/a
MarketVane Bulls…. 73......... 74..............24
IBD: Short Interest- ….7.46nh……7.46………. 4.0
Public/NYSE Spec.-…. 7.07………13.15……….1.0
Birinyi Blogger
Bull/Bear Poll …………20.0/46.9
Bullish%- ……….…78...............88 -2/04...... 46-8/04
SentimentTrader
Short/longtermBULL/BEAR. N(neutral)/N

*Insider corporate sellers 30:1
Sectors: Most Buyers: Finance
Most Sellers: Tech, Energy

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ARE H&S TOPS RELIABLE?: