SANTA CLAUS RALLY

Odds are, despite Dark Pools making up half the stock market Volume these days, that the usual final week will pass us through the 20,000 mark on the DJIA, even with a four-day week. After that, I do not see much of a strong rally in 2017.
One reason is that so many $$ are going into Index ETFs, that it is lifting the bad/weak members of that Index along with the good, and could weaken the rally. Most Indicators below were Bullish, short term, except for the early week newsletter Bull/Bear ratios. Nasdaq Volume was strong, yet overall Volume down; stocks on BUY signals up; equity flows from MMFs good.

 Have a Great New Years!!

Date		12/23/2016	12/16/2016
Indices:	DJIA	19933	19843
	NAZ	5462	5437
	SPX	2263	2258
WklyVolume (Bshs).	naz/ny….	7.5/3.5	11.0/6.2
Specul.Ratio hi=bullish		2.14	1.77
Sentiment:	put/call-CBOE	69	58
VIX>50-alltmlow=8.8		11.4	12.2
DeltaMSI-50%	MAC crossover	69%	70%
Advance/Dec-NYSE..		1815/1289	1045/2063
Weekly Net:		526	-1018
Cumulative:		171190	170664
Weekly	NYSE hi/low…	314/68	475/182
New Hi's/Low's	Nasdaq h/l	457/149	564/153
McClellan	Oscillator	9	4
McClellanSum	.+750/-1000	466	403
Newsletter	Inv.Intel -Bull	59.8	59.6
Surveys-Tues	Bear:-5yrs	19.6	19.2
Wed.	AAII  -Bull	44.6	44.7
	Bear	29.2	32.3
US$-WSJ		102.9	102.8
3-box rev	Bullish%-	70	71
US equity -ICI	Fund Flows	WeekLate	19.0B
MMF flows	Change in $B	(20.8B)	(3.9B)
MargDebt- top (300M)	monthly		484B
10-yr Tsy yield	hi= stock buying	2.54%	2.59%
2-yr Tsy Yield: Inflation		1.20%	1.26%
TIP (ETF)	Inflation	112.5	111.2