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*********** PRICE PERFORMANCE / LOCATION
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ES Analysis: I marked Aggressive Buying (green-at-top) on Friday as ES ended the week close to the high and above Mon-Wed Hi-Lo Range which indicated Buyers Active on the weekly timeframe. Pre-open (Monday) ES prints 1790 which is the key level at the start of this week
Stock index ETFs: The Key poc levels are SPY 179.37, IWM 110.87, DIA 154.86, QQQ 85.37. IWM (smallcaps) has been relatively underperforming broader indices recently which is not usually a healthy sign and this is the Key chart. Can IWM also indicate ST strength by printing above its key poc level (110.87) as the other three charts are doing?
*********** BREADTH
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Breadth: CP Market Timing System is negative for all major Market Charts.
Stocks>50dyma numbers: Nyse 39%, Nasdaq 42%, R2000 33%, UK 59%. Numbers >50 are considered supportive.
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*********** SENTIMENT
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Consensus Polls:
02/07: AAII (public poll). Bulls% was lower again at 27.9% which is the lowest Bulls% since April last year.
Bears% was higher at 36.4%. The 4wk ma of net (Bulls-Bears) was lower at 5.68, the lowest since September.
02/07: Investors Intelligence. Bulls% was sharply lower at 45.9%. Five week’s ago Bulls% reached 61.6% which was the highest since October 2007. Bears% was higher at 17.4%. Six week’s ago Bears% hit 14.1% which was the lowest Bears% in my database. The 4wkma of nett at 37.4 is off the high of 45.3 it reached four weeks ago – the highest in my database
02/07: Market Vane (advisers) poll was lower at 58.
02/07: The NAAIM number (a measurement of average current equity exposure among active money managers) was sharply lower again at 50.97.
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Mutual Fund Flow:
02/07: My version of the Rydex Assets Ratio ended the week at 5.53. Down from the high of 7.5 on 16th Jan which was the highest ratio in my database.
02/07: lipperusfundflows reported Equity Fund outflows of -$20.9 Billion in the week to 5th Feb. This is the largest single weekly outflow I have in my database.
02/07: lipperusfundflows ex_ETFs reported Equity Fund inflows of $1.5 Billion in the week to 5th Feb