I just updated my Mutual Fund Flows chart. Take a look at it.
$18.69 billion was pulled out of US mutual funds in July, a pretty gigantic number. What about August? The official data won’t be out for another month, however the public does not appear to be in any rush to come back in. One research firm is predicting a very modest inflow.
You can also get an idea of how enthusiastic the public is about US stocks by looking at the monthly volume on the major ETF’s. For example, SPY volume plunged dramatically from July to August, whereas in 2007 it surged from July to August.
nas futes down 1.5 currently. i thought with the dell news this would be worse…
fair value for nas fut are 12.75 or so so they are down around 14 really.
you would have thought they would have been down about 10 points at least with the q’s being so weak yesterday.We also have weaker consumer spending for July.Feds must want to run this up into the weekend
08/29/2008 8:45 AM EST
Futures add to losses after inflation and spending data
NEW YORK (Reuters) – Stock index futures added to losses on Friday after a government report showed U.S. personal income tumbled unexpectedly in July and an inflation measure was at a 17-year high.
Stocks had already been modestly lower as the price of oil rose and computer maker Dell Inc posted a surprisingly steep drop in quarterly earnings.
S&P 500 futures fell 3.30 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures slipped 17 points and Nasdaq 100 futures dipped 5.75 Center | Obtain prospectus | Enhanced Support
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Matt,
Just an update to my post a while back:
http://www.trivisonno.com/whitney-gives-big-dogs-a-beating#comments
The QQQQ made it to my blue circle below the “A” right on target (Point 2) and ran up to Point 3 and is now headed down to Point 4 sometime in late September early October. Here is my latest chart:
http://www.aandasoftware.com/images/QQQQ-08-29-2008b.jpg
I expect the market to break down hard below the line (Point 4). But if it holds this time the bear market is over.
I really like your postings, a great source of data, Thanks,