SAME OLD

Not much change over the mid-week Holiday. Indices were positive, breadth negative, Volume almost halved. The TIP did break down below 113, and short term Treasury rates jumped a bit.
Bull/Bear ratios still very strong on the Bull side, as investors pour $$ into ETFs now, mostly SPY.
Great interview of Burton Malkiel on this by Consuela Mack - Wealthtrack (PBS or .com).
Question is - which ends first?: Fed propping up the markets or Index fund Inflows, propping up weak as well as strong stocks in each Index.
Here are last week's numbers:

Date		7/7/2017	6/30/2017
Indices:	DJIA	21414	21349
	NAZ	6153	6140
	SPX	2425	2423
WklyVolume (Bshs).	naz/ny….	6.6/3.0*	10.7/4.4
Specul.Ratio hi=bullish		2.2	2.43
Sentiment:	put/call-CBOE	63	66
VIX>50-alltmlow=8.8		11.2	11.2
DeltaMSI-50%	MAC crossover	63.3	61.6
Advance/Dec-NYSE..		1418/1630	1688/1404
Weekly Net:		-212	284
Cumulative:		177925	178137
Weekly	NYSE hi/low…	229/96	297/57
New Hi's/Low's	Nasdaq h/l	164/107	314/104
McClellan	Oscillator	-11	0
McClellanSum	.+750/-1000	560	584
Newsletter	Inv.Intel -Bull	52.5	54.9
Surveys-Tues	Bear:-5yrs	18.8	18.6
Wed.	AAII  -Bull	29.6	29.7
	Bear	29.9	26.9
US$-WSJ		96	95.7
3-box rev	Bullish%-	73	72
US equity -ICI	Fund Flows	weeklate	(4.4B)
MMF flows	Change in $B	4.7B	4.2B
MargDebt- top (300M)	monthly		540
10-yr Tsy yield	hi= stock buying	2.39	2.5
2-yr Tsy Yield: Inflation		1.4	1.38
TIP (ETF)	Inflation	112.4	113.4