Autumn leaves may turn to Tea leaves in November.
Meanwhile, nothing upsets the market's proclivity to undermine the September curse (so far) - October may be a different animal. Volume, which, for some reason is never tracked on CNBC,Bloomie, got back to normal last week, thanks to option expiry, which is also rarely mentioned as having an effect on markets.
Most Sentiment Indicators were benign, with the exception of the AAII Bull/Bear ratio, which comes out on Wednesdays - it flashed a 50.9% Bulls, which is getting complacent - while the complementary Bears dropped 7% to 24.3.
Corporate (legal) Insider Selling jumped by a factor of 6 times the total of 2 weeks ago. MMF flows also leapt from $10B Inflow to a negative $25B outflow - most likely to Emerging markets and fixed income.
Here are the numbers:
MktSentiment | Last Week | Prev. Week | 5 Yr HI | 5 Yr LOW |
DJIA: | 10607 | 10462 | 14093 | 6626 |
Nasdaq: | 2315 | 2242 | 2805 | 1114 |
S&P 500: | 1125 | 1109 | 1561 | 683 |
CBOE Eq. put/call: | 57 | 61 | 96-10/08 | 46-1/03 |
VIX: | 22.0 | 22.0 | 90 | 8.8 |
McClellan Osc: | 25 | 43 | 108 | (123) |
McClellan Sum: | 695 | 502 | 1568 | (1514) |
Newsletter Surveys | ||||
InvestorsIntel.Bull: | 36.7 | 33.3 | 63 | 22.21 |
InvestorsIntel.Bear: | 31.1 | 32.2 | 54.4 | 16 |
AAII Bull: | 50.9 | 43.9 | n/a | n/a |
AAII Bear: | 24.3 | 31.6 | n/a | n/a |
Nova/Ursa Mutual Funds: | n/a | n/a | 2.2 | 0.56 |
US Equity-1 week lag | n/a | (2.2B) | ||
Money Market Flows | (24.6B) | 10.6B | ||
ETF equity:Monthly Totals | n/a | n/a | n/a | |
Baltic Dry Index: | 2737 | 2995 | 11700 | 663 |
Bullish %: | 57 | 52 | 88 | 2 |
Insider Corporate Sellers: | 32:1 | 21:1 | 108:1 | 2.4:1 |
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