UK - The "UNTIED" KINGDOM

If you Brexit, you Own it!! And their currency got "Pound'ed" - The S F Comical likened it to Texas leaving the U.S. (Texit?). Standard and Poor's just downgraded Britain's economy from AAA to AA today - I  guess they have to go to those damn meetings again!

 Despite the whirlwind finish to  last week,  overall, it wasn't that exceptional for Sentiment. Of course the VIX (Volatility Index) jumped up 1/3, to 26, week over week. Volume was strong as well, as were Bonds and Gold, in a flight to safety. AAII Bears were still strong, a bullish sign (FOR the market).

Here are the numbers:

	SPX	2037	2071
WklyVolume (Bshs).	naz/ny….	10.6/6.0	9.9/5.7
Specul.Ratio hi=bullish		1.77	1.74
Sentiment:	put/call-CBOE	74	72
VIX>50-alltmlow=8.8		25.8	19.4
DeltaMSI-50%	MAC crossover	62%	67%
Advance/Dec-NYSE..		1243/1916	1164/1990
Weekly Net:		-673	-826
Cumulative:		166814	167487
Weekly	NYSE hi/low…	391/73	270/83
New Hi's/Low's	Nasdaq h/l	167/194	145/182
McClellan	Oscillator	-21	-28
McClellanSum	.+750/-1000	772	783
Newsletter	Inv.Intel -Bull	47.5	45.9
Surveys-Tues	Bear:-5yrs	23.2	23.5
Wed.	AAII  -Bull	22	25.4
	Bear	35.2	37.5
US$-WSJ		95.5	94.1
3-box rev	Bullish%-	60	67
US equity -ICI	Fund Flows	WeekLate	(.1B)
MMF flows	Change in $B	(3.6B)	(18.6B)
MargDebt- top (300M)	monthly
10-yr Tsy yield	hi= stock buying	1.56%	1.61%
2-yr Tsy Yield: Inflation		0.63%	0.70%
TIP (ETF)	Inflation	115.8	115.4

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

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UK - The "UNTIED" KINGDOM

BREXIT OR BREMAIN?

According to the Wisdom of Crowds, the U K should exit the EU on Thursday (our Wednesday night 11 to 1?); but the seeming reversal due to the assassination , and the fact that polls got it wrong in Scotland and Canada prior times, the Brits could Bremain, probably lifting both the European and U S markets with relief. Also, fund managers' cash is at a  high level, usually Bullish as well.

My new Indicator, the Delta MSI (stocks on Buy signals from moving average crosses) is echoing the old one of Bullish % - stocks on BUY signals. After an ugly two weeks in the markets, today's rally is no surprise. MMF flows were out of Money Markets bigtime, and the AAII Bears jumped 10 points - see below:

Date>		6/17/2016	6/10/2016
Indices:	DJIA	17675	17865
	NAZ	4800	4894
	SPX	2071	2096
WklyVolume (Bshs).	naz/ny….	9.9/5.7	8.5/4.3
Specul.Ratio hi=bullish		1.74	1.98
Sentiment:	put/call-CBOE	72	67
VIX>50-alltmlow=8.8		19.4	17
DeltaMSI-50%	MAC crossover	67%	74%
Advance/Dec-NYSE..		1164/1990	1576/1589
Weekly Net:		-826	-13
Cumulative:		167487	168313
Weekly	NYSE hi/low…	270/83	513/37
New Hi's/Low's	Nasdaq h/l	145/182	255/108
McClellan	Oscillator	-28	-13
McClellanSum	.+750/-1000	783	990
Newsletter	Inv.Intel -Bull	45.9	47.3
Surveys-Tues	Bear:-5yrs	23.5	23.8
Wed.	AAII  -Bull	25.4	27.8
	Bear	37.5	27.8
US$-WSJ		94.1	94.7
3-box rev	Bullish%-	67	72
US equity -ICI	Fund Flows	WeekLate	(1.0B)
MMF flows	Change in $B	(18.6B)	(5.7B)
MargDebt- top (300M)	monthly
10-yr Tsy yield	hi= stock buying	1.61%	1.64%
2-yr Tsy Yield: Inflation		0.70%	0.73%
TIP (ETF)	Inflation	115.4	115.8

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

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BREXIT OR BREMAIN?

Internet of Things

It has been my contention that at some point the exploding Internet inventions, as well as the San Francisco population will end in a Future Shock spiral (at least a course correction). Either a major earthquake in S.F., or, as Barron's points out this week, technology is getting so complex that many cannot understand or apply the myriad startups - especially when the top FANG companies are so competitive with their proprietary findings as to not become universal.

Another danger, of course, is the global NIRP which is affecting the U.S. interest rates, as foreigners buy record amounts of Treasuries - how will pensions, Social Security retirement accounts meet their 7.5% necessary profit performance in a negative world, mandating at least some Treasuries in their investment portfolios? But the stock market rolls on!!!

A Barron's editorial finds that over the past 50 years, the stock market in 20-year slices, has always gained 8 to 12%. And Tom Bowley of Stockcharts.com relates that stocks bought between the 27th of the month and the 6th of the next shows 100% of the gains!! BTW , those of us GGU alums will recognize Gatis Roze as a regular contributor...

Despite recent weakness, most Sentiment Indicators, just like the indices, are near recent Bullish levels - NYSE H/Los were 513 to 37.

Here are the numbers:

Date>		6/10/2016	6/3/2016
Indices:	DJIA	17865	17807
	NAZ	4894	4942
	SPX	2096	2099
WklyVolume (Bshs).	naz/ny….	8.5/4.3	7.3/4.3*
Specul.Ratio hi=bullish		1.98	1.7
Sentiment:	put/call-CBOE	67	60
VIX>50-alltmlow=8.8		17	13.5
DeltaMSI-50%	MAC crossover	74%	70%
Advance/Dec-NYSE..		1576/1589	2167/1011
Weekly Net:		-13	1156
Cumulative:		168313	168326
Weekly	NYSE hi/low…	513/37	368/27
New Hi's/Low's	Nasdaq h/l	255/108	202/79
McClellan	Oscillator	-13	30
McClellanSum	.+750/-1000	990	843
Newsletter	Inv.Intel -Bull	47.3	45.4
Surveys-Tues	Bear:-5yrs	23.8	23.7
Wed.	AAII  -Bull	27.8	30.2
	Bear	27.8	29.1
US$-WSJ		94.7	94
3-box rev	Bullish%-	72	71
US equity -ICI	Fund Flows	WeekLate	(.8B)
MMF flows	Change in $B	(5.7B)	0
MargDebt- top (300M)	monthly		456B
10-yr Tsy yield	hi= stock buying	1.64%	1.70%
2-yr Tsy Yield: Inflation		0.73%	0.78%
TIP (ETF)	Inflation	115.8	115.1

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

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Internet of Things

SWEET BREADTH

One of the lesser known Sentiment Indicators is the Speculation of Nasdaq stocks to NYSE, which is near its long term low this week; also low is the CBOE put/call ratio and VIX. Buyers versus Sellers got stronger, as we approach the old highs again, with the Fed putting off rates, the Brexit and Election upcoming:
Advances over Declines rose, as did New Highs over Lows (368 to 27) -  my cumulative A/D this week is EXACTLY at the all-time high of 168,326!! The McClellan Summation is moving to 1,0000 again. Here are the numbers:

Date>		6/3/2016	5/27/2016
Indices:	DJIA	17807	17873
	NAZ	4942	4933
	SPX	2099	2099
WklyVolume (Bshs).	naz/ny….	7.3/4.3*	8.6/4.2
Specul.Ratio hi=bullish		1.7	2.05
Sentiment:	put/call-CBOE	60	59
VIX>50-alltmlow=8.8		13.5	13.1
DeltaMSI-50%	MAC crossover	70%	64%
Advance/Dec-NYSE..		2167/1011	2482/695
Weekly Net:		1156	1787
Cumulative:		168326	167170
Weekly	NYSE hi/low…	368/27	241/50
New Hi's/Low's	Nasdaq h/l	202/79	190/106
McClellan	Oscillator	30	21
McClellanSum	.+750/-1000	843	731
Newsletter	Inv.Intel -Bull	45.4	35.4
Surveys-Tues	Bear:-5yrs	23.7	24
Wed.	AAII  -Bull	30.2	17.8
	Bear	29.1	29.4
US$-WSJ		94	95.7
3-box rev	Bullish%-	71	69
US equity -ICI	Fund Flows	WeekLate	(,9B)
MMF flows	Change in $B	0	14.2B
MargDebt- top (300M)	monthly	456B	March
10-yr Tsy yield	hi= stock buying	1.70%	1.85%
2-yr Tsy Yield: Inflation		0.78%	0.92%
TIP (ETF)	Inflation	115.1	114.3

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

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SWEET BREADTH