EARLY EDITION II

Saturday, September 10, 2016

EARLY EDITION II

As noted earlier, I shall be travelling the next two weeks - family bonding (and stocking). Monday should be quite exciting despite (hopefully) no 9/11 tragedies - after Friday's meltdown. Still, Sentiment Indicators, through bloody Friday, were mostly echoing Augusts ennui. A/D (advances/declines) were obviously ugly, but the new highs - NY and Nasd - still Yuge..

Volume about the same as previous, despite the Monday off. The Bullish % (stocks on a Buy signal) and its new cousin - Delta SMI - remain high, but no weakness in either. And the McClellan Oscillator, near the minus 50 level (usually my buy signal for Monday) would indicate a reversal of Friday (thanks Fed); or maybe NOT. Fedmeet is the 20th on, and Fiscal year end a couple weeks later - budget????

Here are the numbers:

Date>		9/9/2016	9/2/2016
Indices:	DJIA	18085	18492
	NAZ	5125	5249
	SPX	2127	2179
WklyVolume (Bshs).	naz/ny….	7.6/3.6	7.7/4.1
Specul.Ratio hi=bullish		2.11	1.88
Sentiment:	put/call-CBOE	63	65
VIX>50-alltmlow=8.8		17.5	12
DeltaMSI-50%	MAC crossover	70%	70%
Advance/Dec-NYSE..		631/2499	2086/1028
Weekly Net:		-1868	1058
Cumulative:		171500	173368
Weekly	NYSE hi/low…	456/30	404/34
New Hi's/Low's	Nasdaq h/l	400/75	362/75
McClellan	Oscillator	-47	-1
McClellanSum	.+750/-1000	758	788
Newsletter	Inv.Intel -Bull	52.5	55.9
Surveys-Tues	Bear:-5yrs	22.8	20.6
Wed.	AAII -Bull	29.8	28.6
	Bear	28.5	31.5
US$-WSJ		95.3	95.9
3-box rev	Bullish%-	74	76
US equity -ICI	Fund Flows	WeekLate	(.1B(
MMF flows	Change in $B	(29B)	(10.5B)
MargDebt- top (300M)	monthly		475B
10-yr Tsy yield	hi= stock buying	1.67%	1.60%
2-yr Tsy Yield: Inflation		0.78%	0.79%
TIP (ETF)	Inflation	115.1	115.5

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