Friday, August 5, 2016

Breadth stats August 5, 2016


The stock market broke upwards to new highs on top of new highs.


I look at 12 breadth stats plus VIX.

Of the 12:
4 participated today – bullish
7 did not participate today – bearish
1 was neutral

VIX was 11.39.  Really really low.  Since December 2014 when it got this low, the market went down soon after a follow through of several days  or went up for a while but did go down before getting all that high.

I am not so sure the follow through from today will go all that far.  If the breadth stats improve, that certainly would indicate a new bull run.

Buying the dips or just holding tight has been best.  Foreign flows of money come to the U.S. safe haven.  Interest rates remain low.  TINA - there is no alternative.

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