Monday, December 8, 2014

Following The Script

Hopefully, now that the Fed is through manipulating the market with extended Debt, it will get back to its normal - which is a usual hiatus in mid-December (selling losers for taxes, winners for window dressing), before a Santa Claus rally.
Extremes in Sentiment last week include:
a jump in the Treas. interest rates (2-year); a rare decline in Advance/Decline - third in two months (and a concomitant negative in the McClellan Oscillator). Also, a large jump in MMF assets.

Here are the numbers:
Date> 12/5/2014 11/28/2014
Indices: DJIA  17958 17828
NAZ  4780 4791
SPX  2075 2067
WklyVolume (Bshs). naz/ny…. 8.9/4.0 5.5/2.9
Specul.Ratio hi=bullish 2.23 1.9
Sentiment: put/call-CBOE  61 61
VIX>50-alltmlow=8.8 11.8 13.3
Advance/Dec-NYSE.. 1478/1786 1768/1475
Weekly Net: -308 293
     Cumulative: 164216 164524
Weekly  NYSE hi/low… 455/326 477/194
New Hi's/Low's Nasdaq h/l 286/302 293/151
McClellan  Oscillator -7 13
McClellanSum .+750/-1000 563 592
Newsletter Inv.Intel -Bull:tues 53.4 56.5
Surveys Bear:-5yrs 13.9 13.8
AAII  -Bull :wed. 42.7 52.5
Bear  25.9 20.8
COT:SPX w/w large/small (net)k 8k/13k N/A
COT:gold  comm.hedg long-short.000 -89 N/A
CEOinsider selling 41:1 40:1
off.&bd b/s.vs. 10% holder b/s 165:45 215:45
3-box rev Bullish%-  76 74
US equity -ICI Fund Flows WeekDelay (2.0B)
MMF flows Change in $B 25.6B 8.4B
MargDebt- top (300M) monthly  454B
ETF:mthlyEqty/ Int'l/Bond-$B 1168/424/294
2-yr Tsy Yield: Inflation 0.64% 0.47%



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