This week’s Chartprofit eBook is available to view
The DNL Reader is required to view the eBook.
If you do not have this program please download it here:
www.digitalwebbooks.com/reader/
*********** PRICE PERFORMANCE / LOCATION
ES analysis: Significant Buying was marked three times last week. Significant Selling has not been marked for twelve days. Friday’s session generated an eighth consecutive Value Area above 2033.50 (4mn poc) which is strong price location if ES holds that level.
First Level Support = 2033.50 (4mn poc)
Major Support = 1962.00 (6mn poc) and SPY 200.11 (8mn poc)
All four major stock index ETFs have positive and increasing Price Momentum (PriceOsc).
.
*********** BREADTH
.
CP Market Timing System is positive for all major Market Charts.
Stocks>50dyma numbers: Nyse 69%, Nasdaq 62%, R2000 62%. Numbers >50 are supportive.
*********** SENTIMENT
.
Consensus Polls:
02/13: AAII (public poll). Bulls% was higher at 40.0% (from 35.5%). Bears% was sharply lower at 20.3 (from 32.2%). Bears% reached an extreme low of 15.1 in November. The nett at 19.7 is up from previous week’s 3.3 which was a six month low.
02/13: Investors Intelligence. Bulls% was higher at 52.5% (from 49.0%). Bears% was lower at 15.2%. The Bulls to Bears ratio is currently at 3.5 which is extremely high but it has been higher, reaching 4.2 in September.
02/13: Market Vane (advisers) poll was higher at 62
02/13: The NAAIM Exposure Index: This week the index was lower at 84.05.24. The recent high (six weeks ago) was 95.86
Mutual Fund Flow:
02/13: My version of the Rydex Assets Ratio ended the week at 11.37. In early December the ratio reached 13.73, the highest in the database.
02/13: lipperusfundflows reported Equity Fund (inc ETF) inflows of $4.3 Billion in the week to 11th February. The 4wk flow number has been negative (net outflow) for the last four weeks. Three weeks ago the net 4wk outflow was -$20.50 Billion which I said at the time is a number more typical of market lows.