Chartprofit eBook 1st November 2013
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*********** PRICE PERFORMANCE / LOCATION
Friday closed within the Mon-Wed Hi-Lo Range indicating no bias on the weekly timeframe. Previous three weeks had indicated Buyers Active.
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*********** BREADTH
Breadth: The CP Market Timing System turned neutral (from positive) for Nyse and Nasdaq and turned negative (from positive) for R2000. UK Market Chart stayed positive.
Stocks>50dyma numbers: Nyse 71%, Nasdaq 60%, R2000 63%, UK 76%. Numbers >50 are considered supportive.
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*********** SENTIMENT
Bullish sentiment increased significantly last week.
Consensus Polls:
11/01: AAII (public poll). Bulls% was lower at 45%. Last weeks 49.2% was the highest since January. Bears% was higher at 21.5%. Last week’s 17.6% was the lowest since January. The 4wk ma of net continues to climb, see level to watch on chart.
11/01: Investors Intelligence. Bulls% was higher at 52.6% (from 49.5%). Bears% was lower at 16.5% which is the lowest Bears% since May 2011. The nett (Bulls minus Bears) at 36.1 is the highest single reading since w/e May 24th. The 4wk ma is rising but below the peak it reached at that time, see chart.
11/01: Market Vane (advisers) poll was higher at 65
11/01: The NAAIM number (a measurement of average current equity exposure among active money managers) was sharply higher at 94.59 (from 79.37). This is the highest reading since February’s104.25 which was the highest in the database.
Mutual Fund Flow:
11/01: My version of the Rydex Assets Ratio ended the week at 4.98, a five month high. The ratio reached as high as 5.43 at the market May high and as low as 2.15 on 07/10 (which was the lowest ratio since January 2012).
11/01: lipperusfundflows reported Equity Fund inflows of $11.8 Billion in the week to 30th October. The 4wk Flow number is at $34.8 Billion with an extreme peak for this number reaching $40.40 Billion in early August.
11/01: lipperusfundflows ex_ETFs reported Equity Fund inflows of $3.1 Billion in the week to 30th October.