Softness

The tape is experiencing a bit of 'Softness' in today's session whereby, we're witnessing some minor bleed after the tremendous run into northern ground these past weeks/months, which should come as no surprise and actually, is rather healthy for the tape in order to 'ring out' some of the excess.

With that said, the Banks, both Commercial and Investment, are putting in a nice session with names such as BAC; C; GS; JPM etc. powering ahead in the green while on a seperate note, AIG is delivering a massive 'squeeze' to the shorts where the lemons have reached the esophagus and the taste is 'bitter/sour'.

Finally, AG continues to act firm with MOS and POT ticking higher, while on the metals front, both Gold and Silver appear to be taking a breather, while crude slips a tad lower.

Have a great day of trade and let's see how they close'm!!

Smokeshow

On Friday, the $USD index broke support at the 78.50 level and it appears that the 'greenback' is headed for the following:





With recent support being breached/violated, the 76 level is now in 'play' and we suspect that in due time, the 72 figure will be revisited as well.

Staircase up and the elevator lower, perhaps skipping a few floors on the way lower/down!

Pinched

The tape continues in its indecisive mode (short-term) whereby the 10-day and 200-day moving averages remain "pinched" as the SPX continues to coil for a spring.

In which direction will she release?

In due time (hours/days) we shall know.

That being said, we can't help but notice the lack of participation in leaders such as AAPL; GOOG and GS, yet, we suspect with Q2 drawing to a close, Da Boyz may just want to bestow a gift upon the public via their Q2 statements, thereby sighing a sign of relief that perhaps things may not be that bad after all despite the tumultuous larger Macro environment.

Thus, while we are certainly prepared for either the blip or dip, both investors and traders may want to keep their eyes pinned on SPX 957 for 'topside' confirmation, while SPX 927-30 should provide the tell for potential downside slippage.

Prudence and caution are warranted here.

Stay on your toes!!

Money Flows

Money Flows For The Week Ending 4/22/2099:


EQUITY FUND INFLOWS: $ 13 MN

X-ETF's EQUITY FUND INFLOWS: $ 1.3 BN


TAXABLE BOND FUND INFLOWS: $ 4 BN

X-ETF's TAXABLE BOND FUND INFLOWS: $ 2.2 BN


Money Flows For The Month Ending March 2009:


EQUITY FUND OUTFLOWS: - $ 29.6 BN

X-ETF's EQUITY FUND OUTFLOWS: - $ 27.1 BN


TAXABLE BOND FUND INFLOWS: $ 20 BN

X-ETF's TAXABLE BOND FUND INFLOWS: $ 14.5 BN


Money Flows For Q1 2009:


EQUITY FUND OUTFLOWS: - $ 55.2 BN

X-ETF's EQUITY FUND OUTFLOWS: - $ 37.6 BN


TAXABLE BOND FUND INFLOWS: $ 53.5 BN

X-ETF's TAXABLE BOND FUND INFLOWS: $ 41.7 BN

Money Flows

Money Flows For The Week Ending 4/8/2009:


EQUITY FUND INFLOWS: $ 811 MN

X-ETF's EQUITY FUND INFLOWS: $ 440 MN


TAXABLE BOND FUND INFLOWS: $ 6.3 BN

X-ETF's TAXABLE BOND FUND INFLOWS: $ 2.5 BN

Lurking; For Now

Despite the early sea of red, the tape was able to recoup the majority of its early losses late in the day, finishing the session fractionally lower, where buyers appear to be lurking in the weeds.

As recently noted, we continue to feel as though the Spoo's (S&P 500) have been given the "green light" for further potential advanced into the SPX 875-900 zone. And, while it's still a bit premature as to whether such developments may/will materialize, today's action is suggestive that this tape remains resilient with buyers remaining in control of the short-term action, for now, within the confines of the primary trend (bear market).

Nonetheless, nothing much has changed from our perch and we'll continue to allow the tape to do "the talking".

As for the metals/commodities spectrum, both Gold and Silver suffered blows to the chin, while crude slid the slippery slope with marginal losses and the $USD putting in a solid upside session.

Overall, until or unless something should change/alter the landscape, the benefit of doubt resides in the hands of the bull camp from a short-term perspective, yet, with full acknowledgement that things could change in a moments notice, particularly as we enter the Q1 earnings season which we now find upon us.

Have a fine evening!!

Money Flows

Money Flows For The Week Ending 4/1/2009:


EQUITY FUND OUTFLOWS: - $ 1 BN

X-ETF's EQUITY FUND INFLOWS: $ 297 MN


TAXABLE BOND FUND INFLOWS: $ 2.8 BN

X-ETF's TAXABLE BOND FUND INFLOWS: $ 2 BN