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*********** PRICE PERFORMANCE / LOCATION
Last week Friday closed below the Mon-Wed Hi-Lo Range indicating Sellers Active on the weekly timeframe but the weekly bar was overlapping/higher so this is not Effective Selling on this timeframe.
ES: Note we are now following the ES Sep contract. On Friday I marked Reactive Buying (green-at-bottom) on a probe of the dayframe Support at 1922.50. Only time spent below 1872.00, the major poc, would indicate weakness in the LT.
ST Bulls would want to see Key Chart IWM holding the 114.0 Support (1/2R off March high).
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*********** BREADTH
Breadth – CP market Timing System: Nyse stayed positive, Nasdaq and R2000 stayed negative and U.K. turned negative from positive.
Stocks>50dyma numbers: Nyse 68%, Nasdaq 59%, R2000 61%, UK 47%. Numbers >50 are considered supportive.
*********** SENTIMENT
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Consensus Polls:
06/13: AAII (public poll). Bulls% was higher at 44.7% which is a 24wk high. Bears% was lower at 21.3%. The nett (Bulls minus Bears) at 23.4 is a1so a 24wk high
06/13: Investors Intelligence. Bulls% was higher at 62.6% which is an extreme high number. Bears% was almost unchanged at 17.2%. The nett (Bulls minus Bears) at 45.4 approaches the extreme of 46.4 reached at the start of the year.
06/13: Market Vane (advisers) poll at 66 is the highest since the start of the year
06/13: The NAAIM Exposure Index (a measurement of average current equity exposure among active money managers) was lower at 87.3
Mutual Fund Flow:
06/13: My version of the Rydex Assets Ratio ended the week at 9.13 which is the highest ratio in my database
06/13: lipperusfundflows reported Equity Fund (inc ETF) inflows of $10 Billion in the week to 11th June
06/13: lipperusfundflows ex_ETFs reported Equity Fund inflows of $2.4 Billion in the week to 11th June
Options:
06/13: OEXCALLS% 10ma at an extreme low this week. Unlike other option ratios, OEX is usually considered a smart-money indicator.
VIX
06/13: VIX closed at 12.18 on Friday. Previous week it closed at 10.73 which was the lowest close since Feb 2007