@ukarlewitz on twitter tweeted some very informational stuff last night…
– Number of trading days without a 5% pullback in SPX. Only uptrend without a 5% correction significantly longer than this started from the bottom of a 20% correction. Pullbacks. <Relink from me, last night.>
– BAML says “Hedge funds are fully invested. Cash @ 4.6% vs historical average of 8-10%.” Hedge fund cash.
– DJIA – 7 day streaks since 2000. Performance was great if it came at bottom (red). Not so great at all at top (green.) Many of those streaks started from the bottom, as you might have suspected. At the top, its at or close to a blow off. DJIA Performance.
– In continuation of Hedge fund cash, he goes on to say, “Other three times sicne 2005 when Hedge Fund cash was also near 4.6% (red lines). Hedge fund cash 2.
Some good stuff as usual from @ukarlewitz, clearly showing a negative preference for this current market. As stated already, my take is that I agree.
Retail sales +1.1% vs +0.5% Est. Boing.
CNN publishes a piece on the dead pig river in China. Dead Pigs.
Futs are flat.
Fly has gone off the ranch predicting a market that will never pull back. Which means the market is going to pull back. Tomorrow.
