DECEMBER RALLY?:

December is usually a good month for the market and it seems that this year may be no exception; however, several Sentiment Indicators are flashing at least corrective warnings: the Bullish % is closing in on record highs, the market surveys are too complacent, and the coincident VIX is lying in a low range.

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	11382	11092	14093	6626
Nasdaq:	2591	2534	2805	1114
S&P 500:	1224	1189	1561	683
CBOE Eq. put/call:	53	61	96-10/08	46-1/03
VIX:	18.0	22.2	90	8.8
McClellan Osc:	14	(29)	108	(123)
McClellan Sum:	421	501	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	55.4	55.7	63	22.21
InvestorsIntel.Bear:	21.8	21.6	54.4	16
AAII Bull:	49.7	47.4	n/a	n/a
AAII Bear:	26.2	24.7	n/a	n/a
US Equity-1 week lag	n/a	(2.6B)
Money Market Flows	(3.2B)	15.4B
Baltic Dry Index:	2096	2170	11700	663
Bullish %:	79	77	88	2
Insider Corporate Sellers:	34:1	55:1	108:1	2.4:1

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DECEMBER RALLY?: