– State of the Market Address:
- The Dow is back above 24,000
- Shiller’s Adjusted S&P P/E ratio is now at 32.60. Slightly off highs, but still arguably at the highest level in history (if we adjust for 2000 distortions) and still above 1929 top of 29.55.
- Weekly RSI at 54 – neutral. Daily RSI is at 57 – neutral.
- Prior years corrections terminated at around 200 day moving average. Located at around 19,400 today (on weekly).
- Weekly Stochastics at 49 – neutral. Daily at 86 – overbought.
- NYSE McClellan Oscillator is at +37 – Neutral.
- Commercial VIX interest is now 20K contracts net short.
- Last week’s CTO Reports suggest that commercials (smart money) have, more or less, shifted back to a net short position. For now, the Dow is net neutral, the S&P is at 4X net short, Russell 2000 is 3X net short and the Nasdaq is 2X net long.
If you would like to find out exactly what happens next based on our Timing and Mathematical work, please Click Here.
ATTENTION!!! Please note, we have moved most of our free editorial content to our new website MarketSpartans.com Please Click Here to view it.
