February 07, 2013 at 09:33 AM EST
Five Situations Investors Need to Be Aware Of Today!
Thursday, February 7, 9:25 a.m. 1. Several markets are at interesting junctures, about to fail at trend-line resistance or break out. 2. Other markets that were overbought above 50-day moving averages like the U.S. market, have pulled back to retest the support at those moving averages, the question being which way now.   3. Investor [...]

Thursday, February 7, 9:25 a.m.

1. Several markets are at interesting junctures, about to fail at trend-line resistance or break out.

020713a

020713b

2. Other markets that were overbought above 50-day moving averages like the U.S. market, have pulled back to retest the support at those moving averages, the question being which way now.

020713c

 

020713d

3. Investor nervousness regarding the short-term overbought condition of the U.S. market above 50-day moving averages can be seen in last night’s weekly AAII sentiment poll, in which bullishness fell 5.3 to 42.8% and bearishness jumped 5.3 to 29.6%.

4. New weekly unemployment claims fell by 5,000 last week to 366,000. The more important four-week moving average, which smooths out the weekly volatility, fell by 2,250 to 350,500, a nearly five-year low.

4. In Europe, Germany’s industrial production rose 0.3% in December, besting the consensus forecast for 0.2%. And in the U.K. British industrial production was up 1.1% in December, also better than the consensus forecast of 0.9%.

5. Insiders are selling heavily again. The Vickers Weekly Insider Report is showing the sell-to-buy ratio on NYSE-listed stocks was at 9.2 to 1 last week. As Mark Hulbert reports on MarketWatch this morning, insiders have been selling heavily for several weeks but the market has continued to rise. Insiders are frequently early. Mark notes the sell-to-buy ratio was at 8.38 to 1 in mid-December, and says there were four occasions in the last ten years when the ratio got this high and the market continued higher for another month or two.

To read my weekend newspaper column click here: Does the Market Have It Right on the Economy Again-

Subscribers to Street Smart Report: There is a hotline and an in-depth U.S. Markets Update from last night in your secure area of the Street Smart Report website. And an in-depth ‘Gold, Bonds, Dollar, Commodities’ update from Monday.

Yesterday in the U.S. Market.

A low volatility day, with the Dow trading in a narrow range of just 79 points between its intraday low and intraday high, and closing almost on its high, but up just 7 points, or less than 0.1%. Trading volume remained low with fewer than 0.7 billion shares traded on the NYSE, 1.9 billion on the Nasdaq.

The Dow closed up 7 points, or 0.05%. The S&P 500 also closed up 0.05%. down 1.2%. The NYSE Composite closed up 0.2%. The Nasdaq closed down 0.1%. The Nasdaq 100 closed down 0.3%. The Russell 2000 closed up 0.3%. The DJ Transportation Avg. closed down 0.2%. The DJ Utilities Avg closed up 0.2%.

Gold closed down $1 an ounce at $1,678.

Oil closed up $.20 a barrel at $96.82 a barrel.

The U.S. dollar etf UUP closed up 0.3%.

The U.S. Treasury bond etf TLT closed up 0.8%.

Yesterday in European Markets.

European markets closed down yesterday. The Europe Dow closed down 0.5%. Among individual countries, the London FTSE closed up 0.2%. The German DAX closed down 1.1%. France’s CAC closed down 1.4%. Greece closed up 2.6%. Ireland closed down 0.4%. Italy closed down 0.7%. Spain closed down 0.5%. Russia closed down 0.9%.

Asian Markets were up strongly Tuesday night but mostly down last night.

The Asia Dow closed up 0.8% Tuesday night and down 0.2% last night.

Among individual markets last night:

Australia closed up 0.3%. China closed down 0.6%. Hong Kong closed down 0.3%. India closed down 0.3%. Indonesia closed up 0.1%. Japan closed down 0.9%. Malaysia closed up 0.1%. New Zealand closed down 0.4%. South Korea closed down 0.2%. Singapore closed down 0.5%. Taiwan closed up 0.3%. Thailand closed down 0.1%.

Subscribers Premium Content Area.

For Street Smart Report subscribers only, used to provide additional info to that provided in the newsletter, mid-week reports, and hotlines.

To obtain access please click on the ‘Subscribe’ link. It will take you to an information page on subscribing to Street Smart Report, a subscription to which includes access to the premium content area of this Street Smart Post blog.

In the premium content area this morning: U.S. Market signals and recommended holdings. and outlook for Gold and Bonds.


*Premium Content*

Please Login or Subscribe to view this content.

Markets This Morning:

European markets are mostly up this morning. The Europe Dow is up 0.4% Among individual countries the London FTSE is down 0.3%. The German DAX is up 0.5%. France’s CAC is up 0.3%. Spain is up 1.1%. Greece is up 1.7%. Italy is up 1.1%. Russia down 0.3%.

Oil is up $.25 a barrel at $96.87.

Gold is down $2 an ounce at $1,676.

This Morning in the U.S. Market:

This week is a very light week for potential market-moving economic reports, Factory Orders, ISM non-mfg Index, Productivity, and a few others.To see the full list click here, and look at the left side of the page it takes you to.

Monday’s report was that U.S. Factory Orders were up 1.8% in December, not quite as strong as the consensus forecast of a gain of 2.3%.

Tuesday’s report was that the ISM non-mfg Index slipped to 55.2 in January 55.7 in December, a bit better than the consensus forecast of a slide to 55.0, and remaining well above the 50 level that marks expansion.

There were no reports yesterday.

This morning’s reports were that new weekly unemployment claims fell by 5,000 last week to 366,000. The more important four-week moving average, which smooths out the weekly volatility, fell by 2,250 to 350,500, a nearly five-year low. And Productivity fell 2.0% in the 4th quarter.

The pre-open indicators remain quite flat after the reports, as they have been all morning.

Our Pre-Open Indicators:

Our pre-open indicators are pointing to the Dow being up 10 points or so in the early going this morning, meaningless as to direction.

To read my weekend newspaper column click here: Does the Market Have It Right on the Economy Again-

Subscribers to Street Smart Report: There is a hotline and an in-depth U.S. Markets Update from last night in your secure area of the Street Smart Report website. And an in-depth ‘Gold, Bonds, Dollar, Commodities’ update from Monday.

I’ll be back with the next regular blog post on Saturday morning, as usual later than the weekly posts, probably around 11:00 a.m.

Non-Subscribers:

We can help you not only make more profits, but just as importantly avoid losses, and at very reasonable cost!

SUBSCRIBE NOW! To get all of this:

(The equivalent of four or five normal newsletters at the cost of one)

  • The 8-page Street Smart Report newsletter every 3 weeks.
  • Hotline Updates whenever signals or recommendations change.
  • Two specific portfolios (Seasonal Timing & Technical Analysis Timing)
  • A 6-page Mid-Week Markets Report every week.
  • A 4 to 6 page Gold, Bonds, U.S. Dollar Report every three weeks.
  • A 4 to 6 page Global Market Report every three weeks.
  • Sy’s weekly column on markets and the economy every Friday.
  • Access to Premium Content area of this Blog, Tuesday, Thursday, and Saturday a.m.

Market, sector, stock, gold, bond, and dollar buy and sell signals, short-sales, long-side and ‘inverse’ etf’s, mutual funds. Highly regarded and in our 26th year. As a bonus for a one-year subscription you will also receive my latest book Beat the Market the Easy Way- Proven Seasonal Strategies That Double the Market’s Performance. Click here for subscription information.

This blog appears every Tuesday, Thursday, and Saturday morning!

**** End of Today’s post*****

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here