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*********** PRICE PERFORMANCE / LOCATION
ES Analysis: Significant Buying has been marked seven times in the last twelve days and no Significant Selling has been marked for fourteen days. ES was auctioned to a new high on Friday. Chart is in a strong price location as long as it holds above 1962.00, the 6mn poc.
*********** BREADTH
Breadth: CP Market Timing System turned neutral (from negative) for Nyse, Nasdaq & R2000. UK turned positive (from negative).
Stocks>50dyma numbers: Nyse 65%, Nasdaq 61%, R2000 71%. Numbers >50 are supportive.
*********** SENTIMENT
Consensus Polls:
10/31: AAII (public poll). Bulls% was almost unchanged at 49.4%. Bears% was also slightly lower at 21.1%. So the nett (Bulls minus Bears) at 28.3 is a nine week high.
10/31: Investors Intelligence. Bulls% was up a lot to 47% (from 35.3%). Bears% was lower at 18.2%. The nett (Bulls-Bears) is at 30.7, up strongly from previous week’s nett at 17.1 which was a twelve month low.
10/31: Market Vane (advisers) poll was higher at 59. The lowest single reading since June 2012 came in 52 two weeks ago
10/31: The NAAIM Exposure Index: Having plummeted to a panicky low of 9.97 (the lowest since 2011) two weeks ago at the price low, the Exposure Index is climbing fast – this week at 74.78
Mutual Fund Flow:
10/31: My version of the Rydex Assets Ratio ended the week at 9.5 which is up strongly from 5.13 (a six month low) on 10/16, just ten days ago, The highest ratio in the database being 10.47 on 07/29. The ratio is rsing fast indicating the public are moving strongly back into the market. We need to watch this closely.
10/31: lipperusfundflows reported Equity Fund (inc ETF) inflows of $8.8 Billion in the week to 29th October. The 4wk flow is a negative -3.3 Billion but this is up from previous week’s extreme low reading of -22.50 Billion.
VIX:
10/31: VIX closed the week at 14.03 having printed above 30 just twelve days ago this (for the first time since December 2011)