Breadth, the number of
advancing stocks versus declining stocks continues to improve since the 1278
low on 1 June. Volume hasn’t given any
indication that there is a correction underway. The percentage of New-highs vs.
new-lows (the number of stocks making a new high divided by new-highs+new-lows) is
declining over the longer term. In other
words there seem to be fewer new highs on a percentage basis. In short, market
internals are a mixed bag without much trend.
As I have speculated before, the market seems to be in a holding pattern
until the news gets a little clearer.
MARKET
Wednesday, today, the S&P
500 was up nearly 1% to 1332. The VIX
fell 1.4% to 19.45.
NTSM
The NTSM analysis is HOLD again
today, Wednesday.
MY INVESTED POSITION
I remain out of the market…
I reduced my stock holdings
to 30% (0% in stock in the 401k) at S&P 1358 after the SELL signal on 9 May
2012. (See the page “How to Use the NTSM System” – the link is on the right
side of this page). I cut my stock
position to 15% on 17 May in order to maintain a 10% gain in a
trading/longer-term position I had in the QQQ.
