After last week's Selling Climax Friday, the CBOE put/call ratio rose to 74, a short term buy signal borne out in today's rally; also, the VIX spiked to a 2 months high at 23.5, and the McClellan Oscillator is at -31, slightly oversold.
On the flip side, Insider Selling by CEOs, etc. also rose to a 2 month high of 27:1, with Energy more than 1/3 of total sector sales. Bullish per cent is at 50, still on a sell signal.
Here are the numbers:
MktSentiment. 6/6/2008 Prev. Week.....5Yr.HI......LOW
DJIA ………. 12209……….12638………..14093............7286
Nasdaq………. 2474………….2522…………2810.............1114
S&P500…….. 1360…………1400…………1561………..776
CBOE Eq. put/call …74…………..63……………..92-1/08…..........46-1/03
VIX ………. 23.5…………17.8…….…….44.. 9/02 bu........10.0-7/05 br
McClellan Osc………..-31………-18……………91-5/04 br......(-81)-5/04bu
McClelSum………254…………..340…………..1568-6/03.......-917
Newsletter Surveys:
Inv.Intel -Bull:…..…44.8…………37.9……….…12/04br......35-6/06bu
Bear:………… 31.1…………32.2………… 38.2-3/03.......16-6/03
AAII-Bull/Bear ……43.5/38.0……31.4/45.8……..n/a n/a
IBD: Short Interest- 14.38nh…….14.3nh…………14.3………. 4.0
Public/NYSE Spec.-…11.5……….10.4…….21bl…………..1.0br
Bullish%- ………….50…………..55…….…88 -2/04br.....19bu
*Insider corporate sellers.27:1……..9:1………..97…………..5
Sectors: Most BuyersFinance Most Sellers: Energy (1/3)
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