Last week, the Top 50 had a total stock allocation of just 9%. Not surprisingly, stocks rallied with the C fund posting a 1.78% gain, while the S fund tacked on 2.97%. This week, some dip buying is evident in the Top 50 as stock allocations rose 20%. Still, total stock allocations for this group are quite conservative at 29%.
As you can see, the Top 50 increased stock holdings over last week.
The Total Tracker showed only a marginal change in total allocations going into the new week.
Our sentiment survey remained on a buy with a 42% bull, 50% bear reading. The Seven Sentinels also remain in a buy condition.
The low may be in, but BPCOMPQ has remained in a downward trajectory in spite of the recent rally. TRIN and TRINQ were largely responsible for keeping the system on a buy in spite of the significant selling pressure seen earlier in the month. Sentiment is largely supportive of higher prices, so I'm inclined to think that's where the market will be heading in the short term.
As you can see, the Top 50 increased stock holdings over last week.
The Total Tracker showed only a marginal change in total allocations going into the new week.
Our sentiment survey remained on a buy with a 42% bull, 50% bear reading. The Seven Sentinels also remain in a buy condition.
The low may be in, but BPCOMPQ has remained in a downward trajectory in spite of the recent rally. TRIN and TRINQ were largely responsible for keeping the system on a buy in spite of the significant selling pressure seen earlier in the month. Sentiment is largely supportive of higher prices, so I'm inclined to think that's where the market will be heading in the short term.
