Chartprofit eBook 2nd May 2014

*********** PRICE PERFORMANCE / LOCATION

 

ES analysis: Last week I marked Significant Buying once and no Significant Selling. Pre-open today (Monday) ES prints below 1871.50, the 3mn poc, in a weaker price location.

 

Stock Index ETFs: Pre-open today SPY prints below 187.73 (7mn poc), IWM prints below 111.48 (12mn poc), QQQ prints above 86.32 (8mn poc) and DIA prints above 163.40 (2yr poc).

 

 

*********** BREADTH

 

Breadth: The CP Market Timing System turned back to positive for Nyse and remained negative for Nasdaq and R2000.

 

Stocks>50dyma numbers: Nyse 55%, Nasdaq 28%, R2000 32%. Numbers >50 are considered supportive.

 

 

*********** SENTIMENT

 

Consensus Polls:

 

05/02: AAII (public poll). Bulls% was lower at 29.8%. Two weeks ago the Bulls% fell to 27.2% which was the lowest for twelve months. This week’s Bears% was higher at 29.4%. The 4week ma of nett (Bulls minus Bears) at -0.95, is the lowest since late June 2013.

 

05/02: Investors Intelligence. Bulls% was higher at 54.7%. Bears% was slightly lower at 20.6% but last week’s Bears% at 21.7% was the highest since September

 

05/02: Market Vane (advisers) poll was unchanged at 61

 

05/02: The NAAIM Exposure Index (a measurement of average current equity exposure among active money managers) was higher at 82.63

 

Mutual Fund Flow:

 

05/02: My version of the Rydex Assets Ratio ended the week at 6.27. On 04/17 the ratio fell as low as 4.83, a 72day low.

 

05/02: lipperusfundflows reported Equity Fund (inc ETF) inflows of $4.2 Billion in the week to 30th April

 

05/02: lipperusfundflows ex_ETFs reported Equity Fund inflows of $1.6 Billion in the week to 30th April