Monday, March 10, 2014

HOLDING THE BREADTH:

Despite Monday's selloff the overall markets' breadth, or advances versus declines is still very strong. Last week saw new highs in the cumulative A/D summation, the McClellan Summation (similar) also broke 1000; it also hit 1560 in June of 2003 after a strong runup, but only to advance for a few more years after the hiccup. The McClellan Oscillator, the weekly number, however, has been declining the past couple weeks to +10.

Markets did hit new highs last week - Nasdaq and S&P 500, and NAS Volume increased over NY (speculative) to a 3-handle. New highs to lows ran above 10 to 1 on both the above indexes.
Other notable extremes: the Investors Intelligence Bears dropped to 15; the gold commercials continue to increase their shorting. Insider selling continues to be huge.
Here are the numbers:

Date> 3/7/2014 2/28/2014
Indices: DJIA  16452 16321
  NAZ  4336nh 4308nh
SPX  1878nh 1859nh
WklyVolume (Bshs). naz/ny 11.0/3.6 10.9/3.7
Specul.Ratio hi=bullish 3.06 2.95
Sentiment: put/call-CBOE  52 58
VIX>50-alltmlow=8.8 14.1 14
Advance/Dec-NYSE.. 1864/1344 1825/1192
Weekly Net: 520 633
     Cumulative: 157669 157149nh
Weekly  NYSE hi/low 512/35 457/63
New Hi's/Low's Nasdaq h/l 500/46 446/50
McClellan  Oscillator 10 42
McClellanSum .+750/-1000 1050 924
Newsletter Inv.Intel -Bull:tues 54.6 53.5
Surveys Bear:-5yrs 15.1 17.2
AAII  -Bull :wed. 40.5 39.7
Bear  26.6 21.1
COT:SPX w/w large/small (net)k 3k/(31k) 6k/(29k)
COT:gold  comm.hedg long-short.000 (121k) (117k)*
CEOinsider selling 40:1 111:1
off.&bd b/s.vs. 10% holder b/s 160:50 200:50
3-box rev Bullish%-  75 72
US equity -ICI Fund Flows WeekDelay 3.1B
MMF flows Change in $B (4B) 20B
MargDebt- top (300M) monthly  451Bnh
ETF:mthlyEqty/ Int'l/Bond-$B 987/377/248
2-yr Tsy Yield: Inflation 0.37% 0.32%
InsiderTotal: 1265k/32k

With record numbers of dollars coming out of Money Market Funds, mostly into the crowded trade of short term bonds, anyone who has a minimal knowledge of covered call options and/or an interest in hedging stock market exposure might want to check out: brentleonard.com for an alternative strategy that is low-risk as well as highly rewarding. For those of you wanting more details and actual trading results, a new book is available for $14.95 at Amazon.com: Zero (IN)Tolerance


Subscribe in a reader


Share/Save/Bookmark

No comments:

Post a Comment