DecisionPoint

DecisionPoint Market Recap and Expanded Market Summary

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The last two days I filled you in on the DP Alert Daily Report and the DP Daily Update, both in the DP Reports blog. Today I'll cover the Market Recap and Expanded Market Summary Reports. Both are concise summaries of market action from not only today, but the past 5 and 15 days. They include not only price data, but also signals from the Price Momentum Model and Price Momentum Oscillator. Let's review the Market Recap first, it does look similar to the DP Alert Report, but it doesn't contain the market posture and Trend Model signals that are in the Alert.


The Daily Market Recap is made up of two main parts. The first part is the price data for major indexes, currencies and sectors, followed by a table that lists these components sorted by percent change. I find this section especially useful to see what indexes or sectors were the big winners for the day and the biggest losers. Here is a copy from yesterday of these two sections:

DECISION POINT DAILY MARKET RECAP

Tuesday, May 13, 2014

***************************** DAILY MARKET RECAP ***************************

                                   Tot   Up Down                    New  New
Index        Close  Change   %Chg  Vol  Vol  Vol   Adv  Decl   A-D High  Low
---------- -------  ------ ------ ---- ---- ----  ----  ---- ----- ---- ----
Dow Ind   16715.44  +19.97  +0.1%  310  155  155    17    13    +4    4    0
S&P 500    1897.45   +0.80  +0.0% 1770  805  897   217   276   -59   58    0
S&P 100     841.06   +1.09  +0.1%  788  374  353    58    39   +19   13    0
NYSE Comp 10702.86   -0.65  -0.0%  604  281  313  1404  1741  -337  147   20
NASDAQ     4130.17  -13.69  -0.3% 1859  787 1002   909  1768  -859   60   40
NASDAQ 100 3611.13   -1.60  -0.0%  596  259  286    35    63   -28    8    0
S&P 400 Md 1368.10   -6.48  -0.5%  440  188  248    95   301  -206   31    0
S&P 600 Sm  649.20   -7.88  -1.2%  292   87  204    92   505  -413   16    1
Dow Trans  7903.51  +36.06  +0.5%   46   42    3    14     6    +8    6    0
Dow Util    535.85   +1.36  +0.3%   52   35   17    10     5    +5    0    0
Russ 2000  1121.16  -12.49  -1.1%  |----------------------------------------
XAU          90.39   -0.24  -0.3%  |   Currency          Last  Change   %Chg
Gold       1294.80   -0.70  -0.1%  |----------------- -------  ------ ------
Crude Oil   101.70   +1.08  +1.1%  |   US Dollar        80.19   +0.24  +0.3%
GSG Commod   33.39   +0.23  +0.7%  |   Euro            137.02   -0.56  -0.4%
T-Bill Yld    0.20    0.00   0.0%  |   Japanese Yen     97.80   -0.12  -0.1%
T-Bond Yld   34.54   -0.38  -1.1%  |   British Pound   168.26   -0.43  -0.3%
30-Yr Bond  135.20   +0.65  +0.5%  |   Canada Dollar    91.69   -0.13  -0.1%

****************************************************************************

MARKET AND SECTOR INDEXES SORTED BY TODAY'S PERCENTAGE CHANGE

                    05/13                       WTD    MTD    YTD
                    Close         $   %age   %Price %Price %Price
Name                Price    Change    Chg   Change Change Change
---------------- --------  -------- ------   ------ ------ ------
US Oil Fund         37.04     +0.45  +1.2%    +1.8%  +2.0%    +5%
Disk Drive Index   108.79     +1.06  +1.0%    +2.7%  -5.1%    -6%
Commodities iSh     33.39     +0.23  +0.7%    +1.2%  +0.3%    +4%
Dow Transports    7903.51    +36.06  +0.5%    +2.4%  +3.0%    +7%
30-Yr Bond         135.20     +0.65  +0.5%     0.0%  +0.7%    +6%
Energy iShares      53.96     +0.24  +0.4%    +1.0%  +0.9%    +7%
Agribusiness        54.86     +0.19  +0.3%    +1.0%  +0.3%    +1%
Pharmaceutical     509.08     +1.55  +0.3%    +0.8%  -1.2%    +9%
Telecom Index     1307.12     +4.45  +0.3%    +0.9%  +4.5%    +3%
Dow Utilities      535.85     +1.36  +0.3%    -0.7%  -3.2%    +9%
Dollar Index        80.19     +0.24  +0.3%    +0.3%  +0.8%     0%
Comp/Tech Indx    1392.47     +2.25  +0.2%    +1.8%  +0.4%    +4%
Consumer Non-Cyc    97.85     +0.17  +0.2%    +0.7%  +1.1%    +3%
Housing Index      197.38     +0.36  +0.2%    +2.0%  +2.0%    -3%
Oil Index         1628.53     +4.03  +0.2%    +0.9%  +1.1%    +8%
Dow Industrials  16715.44    +19.97  +0.1%    +0.8%  +0.8%    +1%
S&P 100            841.06     +1.09  +0.1%    +1.0%  +0.6%    +2%
Basic Mat'ls iSh    85.30     +0.05  +0.1%    +1.5%  +1.7%    +5%
Defense Index      687.79     +0.65  +0.1%    +1.5%  +2.4%    +7%
Health Care iSh    122.94     +0.07  +0.1%    +1.2%  +0.8%    +6%
Natural Gas In     899.00     +0.90  +0.1%    +0.5%  -0.6%   +10%
Silver              19.55     +0.02  +0.1%    +1.9%  +1.9%    +1%
S&P 500           1897.45     +0.80   0.0%    +1.0%  +0.7%    +3%
NYSE Comp        10702.86     -0.65   0.0%    +0.9%  +0.7%    +3%
Nasdaq 100        3611.13     -1.60   0.0%    +1.6%  +0.8%    +1%
Aerospace iSh      111.25      0.00   0.0%    +1.5%  +2.4%    +5%
Health Care Prov    97.88     -0.01   0.0%    +1.5%  +3.3%    +5%
Insurance iSh       47.01     +0.02   0.0%    +1.3%  +1.7%     0%
DJUS Tot Market  19824.90    -16.68  -0.1%    +1.0%  +0.6%    +2%
Airline Index       82.90     -0.12  -0.1%    +2.9%  +4.9%   +19%
Chemical           523.85     -0.68  -0.1%    +1.0%  +1.6%    +5%
Cyclical iShares    81.63     -0.11  -0.1%    +1.0%  +0.5%    -3%
Gold              1294.80     -0.70  -0.1%    +0.4%  +0.3%    +7%
Consumer iShares   120.06     -0.21  -0.2%    +1.0%  +1.1%    -1%
Nasdaq Comp       4130.17    -13.69  -0.3%    +1.4%  +0.4%    -1%
Gold Index (XAU)    90.39     -0.24  -0.3%    +1.1%  -2.0%    +7%
Financial iSh       81.00     -0.21  -0.3%    +0.7%  +0.8%    +1%
Oil Service In     286.51     -0.74  -0.3%    -1.4%  -2.6%    +2%
Technology Ind    1790.92     -6.21  -0.3%    +1.2%  +0.8%    +3%
Medical Del iSh     97.88     -0.39  -0.4%    +0.9%  +3.0%    +6%
Networking Ind     329.17     -1.20  -0.4%    +2.5%  +0.3%    +2%
Retail SPDR         84.51     -0.37  -0.4%    +1.5%  +1.2%    -4%
S&P 400 Mid-Cap   1368.10     -6.48  -0.5%    +1.1%  +0.9%    +2%
Health Care Prd     75.86     -0.37  -0.5%    +2.4%  +3.6%    -1%
Internet ETF        54.84     -0.27  -0.5%    +2.8%  -0.1%    -8%
Biotech iShares    230.51     -1.41  -0.6%    +1.8%  +0.1%    +2%
Broadcast/Entert   989.72     -6.21  -0.6%     0.0%  +1.9%    -1%
Real Estate iS      70.80     -0.42  -0.6%    -0.4%  +1.5%   +14%
Semiconductor      581.88     -4.60  -0.8%    +1.0%  +1.0%    +9%
Software iShares    79.78     -0.67  -0.8%    +1.7%  +0.6%    -3%
Brokerage Index    154.83     -1.39  -0.9%    +1.6%  -0.6%    -4%
Russell 2000      1121.16    -12.49  -1.1%    +1.3%  -0.5%    -4%
S&P 600 Sml-Cap    649.20     -7.88  -1.2%    +1.0%  -0.4%    -2%
Banking iSh         38.44     -0.50  -1.3%    +0.6%  -0.1%    -5%

Average                              -0.1%    +1.2%  +0.8%    +3%

The final portion of the Market Recap includes PMO and PMM signals. These are mechanical models created by Carl Swenlin. The PMO is the shorter-term model and the PMM is the longer-term model. Section one shows the indexes ranked by relative PMO strength. The next two sections show the signals for each of the models. And the final section compares the two in one table. The Hot/Cold Group & Blinkers are defined at the bottom of the report, but here is a review from yesterday's blog

These groups and "+" "-" symbols add even more dimension to the ranking. They tell you which way momentum is currently swinging.

The PMO Rank is based on the PMO value, the higher the value, the stronger the momentum and internal strength of that index. The report also shows you how the rank has changed over the past 5 and 15 days. I also like that you can see the percentage price change not just for that day, but for the past 5 days and 15 days. 

Let's look at the Hot/Cold Group and blinkers. The groups are on a scale of 1 to 6, with 1 being 'hottest' and 6 being 'coldest'. They are hot or cold based on their internal strength, price strength and rank strength. We can quickly assess the condition of these elements by the group number and "blinker" fields. Moving from left to right: The first blinker tells us if the PMO is above (+) or below (-) its10-day exponential moving average (EMA). The second blinker indicates if the closing price is above (+) or below (-) it's 20-DMA. The third and fourth blinkers tell us if the PMO is rising (+) or falling (-), and if it is above (+) or below (-) zero. The fifth blinker tells us if the 5-day PMO rank change is positive (+), negative (-), or the same ( ).

So if we look at the first row, the Oil Index is only in group 3, "lukewarm" group. The blinkers reading across tell us the PMO is above its 10-EMA and its closing price is above its 20-DMA. The PMO is falling but it is above zero. In the past five days it has not changed rank.


MARKET INDEXES RANKED BY STRENGTH

This section ranks market indexes by Price Momentum Oscillator (PMO)
relative strength so that we can observe rotational trends and identify the
sectors that are gaining or losing strength.

                      |-RankChg-| |---- % Price Change ----|  Hot/Cold
                  PMO    5    15      On     5    15           Group &
Index            Rank  Day   Day   05/13   Day   Day    YTD   Blinkers
---------------- ---- ----  ----  ------ ----- ----- ------ |---------|
Oil Index           1    0   +1    +0.3%    0%   +3%    +8%  3 ++ -+  
Natural Gas In      2    0   -1    +0.1%    0%    0%   +10%  4 -+ -+  
Energy iShares      3    0    0    +0.5%    0%   +1%    +7%  4 -+ -+  
Real Estate iS      4   +2   +4    -0.6%   +1%   +2%   +14%  3 ++ -+ +
Telecom Index       5   +4   +6    +0.3%   +2%   +4%    +3%  1 ++ ++ +
Airline Index       6   +1   +1    -0.1%   +3%   +4%   +19%  1 ++ ++ +
Dow Transports      7   +3   +5    +0.5%   +3%   +2%    +7%  1 ++ ++ +
Dow Utilities       8   -4   -3    +0.3%   -2%   -1%    +9%  5 -- -+ -
Pharmaceutical      9   -1  +14    +0.3%    0%    0%    +9%  4 -+ -+ -
Consumer Non-Cyc   10   +1   +5    +0.2%   +2%   +2%    +3%  1 ++ ++ +
Oil Service In     11   -6   -7    -0.3%   -3%   -5%    +2%  5 -- -+ -
Basic Mat'ls iSh   12   +2   +2    +0.1%   +2%   +2%    +5%  1 ++ ++ +
Insurance iSh      13   +5  +13    +0.0%   +3%   +3%     0%  1 ++ ++ +
NYSE Comp          14   -1   +3    -0.0%   +1%   +1%    +3%  2 ++ ++ -
Agribusiness       15   -3   -2    +0.4%   +1%    0%    +1%  4 -+ ++ -
Chemical           16   +4    0    -0.1%   +1%   +1%    +5%  1 ++ ++ +
Aerospace iSh      17   +8  +11     0.0%   +2%   +2%    +5%  1 ++ ++ +
Defense Index      18   +6   +3    +0.1%   +2%   +2%    +7%  1 ++ ++ +
S&P 100            19   -3   -1    +0.1%   +2%   +1%    +2%  2 ++ ++ -
Dow Industrials    20   +1    0    +0.1%   +2%   +1%    +1%  1 ++ ++ +
S&P 500            21   +1   +1    +0.0%   +2%   +1%    +3%  1 ++ ++ +
30-Yr Bond         22   -5   -3    +0.5%    0%   +1%    +6%  2 ++ ++ -
Semiconductor      23   -4  -14    -0.8%   +1%   -1%    +9%  4 -+ ++ -
Broadcast/Entert   24   +4  +18    -0.6%   +1%   +2%    -1%  1 ++ ++ +
Comp/Tech Indx     24   -1   +1    +0.2%   +2%   +2%    +4%  2 ++ ++ -
Commodities iSh    26  -11  -16    +0.7%   +1%    0%    +4%  4 -+ ++ -
DJUS Tot Market    27    0   -3    -0.1%   +1%    0%    +2%  1 ++ ++  
US Oil Fund        28   -2  -22    +1.2%   +2%    0%    +5%  4 -+ ++ -
Health Care Prov   29   +7   +4    -0.0%   +3%   +4%    +5%  1 ++ ++ +
Financial iSh      30    0   -3    -0.3%   +2%    0%    +1%  1 ++ ++  
Health Care iSh    31    0   +7    +0.1%   +1%   +1%    +6%  1 ++ ++  
S&P 400 Mid-Cap    32   -3   -1    -0.5%   +1%    0%    +2%  2 ++ ++ -
Medical Del iSh    33   +7   -4    -0.4%   +2%   +1%    +6%  2 ++ +- +
Nasdaq 100         34   +1  +10    -0.0%   +2%   +1%    +1%  2 ++ +- +
Dollar Index       35   -3   -5    +0.3%   +1%    0%     0%  2 ++ +- -
Retail SPDR        36   +2   +5    -0.4%   +3%   +2%    -4%  2 ++ +- +
Consumer iShares   37    0   +2    -0.2%   +2%    0%    -1%  2 ++ +-  
Cyclical iShares   38   -4   -1    -0.1%   +1%   -1%    -3%  2 ++ +- -
Technology Ind     39    0   -3    -0.4%   +1%   -1%    +3%  2 ++ +-  
Gold               40   -7   -5    -0.1%   -1%   +1%    +7%  4 -- +- -
Brokerage Index    41    0   +6    -0.9%   +2%   -1%    -4%  2 ++ +-  
Nasdaq Comp        42   +1   +4    -0.3%   +1%   -1%    -1%  2 ++ +- +
Housing Index      43   +1   +5    +0.2%   +2%   +1%    -3%  2 ++ +- +
S&P 600 Sml-Cap    44   -2  -10    -1.2%   +1%   -2%    -2%  4 -- +- -
Networking Ind     45    0   -5    -0.4%   +2%   -3%    +2%  4 -+ +-  
Russell 2000       46   +1   -1    -1.1%   +1%   -3%    -4%  4 -- +- +
Health Care Prd    47   +3   +2    -0.5%   +2%    0%    -1%  2 ++ +- +
Silver             48    0   +3    +0.1%    0%   +1%    +1%  2 ++ +-  
Software iShares   49   +2   +1    -0.8%   +2%   -2%    -3%  2 ++ +- +
Biotech iShares    50   +2   +4    -0.6%   +1%   -2%    +2%  2 ++ +- +
Gold Index (XAU)   51   -5   +1    -0.3%   -2%   -1%    +7%  6 -- -- -
Banking iSh        52   -3  -20    -1.3%   +2%   -4%    -5%  4 -- +- -
Internet ETF       53   +1    0    -0.5%   +2%   -6%    -8%  3 +- +- +
Disk Drive Index   54   -1  -11    +1.0%   -2%  -11%    -6%  6 -- -- -

Average                            -0.1%   +1%   +0%    +3%

****************************************************************************
PMO (PRICE MOMENTUM OSCILLATOR) CROSSOVER SIGNALS

The PMO generates BUY or SELL Signals when it crosses up or down through
its 10-DMA. These signals tend to be short-term in duration, but they can
last for several weeks. Do not take them at face value because they can
whipsaw quite a bit. They should be used to alert you to possible trading
opportunities not used as a mechanical trading model. Always check our daily
stock charts to verify the price pattern and the configuration of the PMO.
Signals are best when price appears extended, is near support or resistance,
and the PMO is very overbought or oversold. These signals may also be used to
manage positions based on the longer-term Price Momentum Model signals.


SUMMARY OF PMO CROSSOVER SIGNALS

                    BUY   SELL

Total Signals...:    38     16
% of Total......:   70%    30%
Ave Days Elapsed:    11     25
Ave High Profit.:    1%     3%
Ave Profit......:    1%     2%

Percentage of PMOs Rising........:  83%
Percentage of PMOs Above Zero....:  59%

THIS IS A LIST OF CANDIDATES FOR FURTHER RESEARCH AND IS NEITHER A
SOLICITATION NOR RECOMMENDATION TO BUY OR SELL THE LISTED SECURITIES.

                    05/13              Cal
                    Close      %      Days    High   Today   PMO
Name                Price    Chg Sgnl Elap     P/L     P/L R/F Days
---------------- -------- ------ ---- ---- ------- ------- --------
Internet ETF        54.84  -0.5%  BUY    0    0.0%   -0.4%    R   1
Nasdaq Comp       4130.17  -0.3%  BUY    1    0.0%   -0.3%    R   1
DJUS Tot Market  19824.90  -0.1%  BUY    1    0.0%   -0.1%    R   1
Airline Index       82.90  -0.1%  BUY    1    0.0%   -0.1%    R   6
Brokerage Index    154.83  -0.9%  BUY    1    0.0%   -0.9%    R   1
Comp/Tech Indx    1392.47  +0.2%  BUY    1    0.2%    0.2%    R   1
Cyclical iShares    81.63  -0.1%  BUY    1    0.0%   -0.1%    R   1
Financial iSh       81.00  -0.3%  BUY    1    0.0%   -0.3%    R   6
Retail SPDR         84.51  -0.4%  BUY    1    0.0%   -0.4%    R   4
Software iShares    79.78  -0.8%  BUY    1    0.0%   -0.8%    R   4
Technology Ind    1790.92  -0.3%  BUY    1    0.0%   -0.3%    R   4
Dollar Index        80.19  +0.3%  BUY    1    0.3%    0.3%    R   4
Silver              19.55  +0.1%  BUY    1    0.1%    0.0%    R   1
Health Care Prd     75.86  -0.5%  BUY    4    2.9%    2.4%    R   5
Medical Del iSh     97.88  -0.4%  BUY    4    1.4%    0.9%    R  11
Health Care Prov    97.88   0.0%  BUY    5    2.4%    2.4%    R   6
Chemical           523.85  -0.1%  BUY    6    0.5%    0.4%    R  11
Basic Mat'ls iSh    85.30  +0.1%  BUY    8    1.2%    1.2%    R   1
S&P 400 Mid-Cap   1368.10  -0.5%  BUY   11    1.0%    0.5%    R   1
Defense Index      687.79  +0.1%  BUY   11    1.8%    1.8%    R  13
Telecom Index     1307.12  +0.3%  BUY   11    2.7%    2.7%    R  13
Housing Index      197.38  +0.2%  BUY   12    1.2%    1.0%    R   4
Consumer iShares   120.06  -0.2%  BUY   13    1.3%    1.1%    R   4
Aerospace iSh      111.25   0.0%  BUY   14    3.0%    3.0%    R  14
Health Care iSh    122.94  +0.1%  BUY   15    1.5%    1.5%    R   4
Nasdaq 100        3611.13   0.0%  BUY   19    0.6%    0.6%    R   4
Broadcast/Entert   989.72  -0.6%  BUY   19    2.2%    1.6%    R  26
Insurance iSh       47.01   0.0%  BUY   19    2.1%    2.1%    R   6
S&P 500           1897.45   0.0%  BUY   20    1.2%    1.2%    R   1
S&P 100            841.06  +0.1%  BUY   20    1.4%    1.4%    R   1
Biotech iShares    230.51  -0.6%  BUY   20    1.0%   -0.2%    R   4
Dow Industrials  16715.44  +0.1%  BUY   21    1.2%    1.2%    R   6
NYSE Comp        10702.86   0.0%  BUY   21    1.0%    1.0%    R   1
Consumer Non-Cyc    97.85  +0.2%  BUY   22    1.9%    1.9%    R   6
Dow Transports    7903.51  +0.5%  BUY   22    2.8%    2.8%    R   6
Real Estate iS      70.80  -0.6%  BUY   26    3.7%    3.0%    F   0
30-Yr Bond         135.20  +0.5%  BUY   32    1.0%    0.8%    R   4
Oil Index         1628.53  +0.2%  BUY   49    9.8%    9.4%    F   5
Pharmaceutical     509.08  +0.3% SELL    0    0.0%    0.1%    F   7
Energy iShares      53.96  +0.4% SELL    4    0.0%   -1.0%    F   5
Agribusiness        54.86  +0.3% SELL    5    0.3%   -0.7%    R   5
Gold Index (XAU)    90.39  -0.3% SELL    5    0.6%   -0.5%    F   0
Natural Gas In     899.00  +0.1% SELL    5    0.3%   -0.2%    F   5
Gold              1294.80  -0.1% SELL    6    0.0%   -0.5%    R   1
Dow Utilities      535.85  +0.3% SELL    8    2.5%    2.2%    F   5
Commodities iSh     33.39  +0.7% SELL   13    0.9%   -0.3%    R   0
Oil Service In     286.51  -0.3% SELL   14    2.1%    2.1%    F  19
US Oil Fund         37.04  +1.2% SELL   18    1.3%   -1.2%    R   0
Banking iSh         38.44  -1.3% SELL   36    7.8%    5.9%    R   1
Semiconductor      581.88  -0.8% SELL   39    3.3%   -0.5%    R   1
S&P 600 Sml-Cap    649.20  -1.2% SELL   49    5.1%    3.3%    R   1
Russell 2000      1121.16  -1.1% SELL   53    8.1%    6.1%    R   1
Disk Drive Index   108.79  +1.0% SELL   63   15.4%   12.3%    F  20
Networking Ind     329.17  -0.4% SELL   76    7.3%    5.1%    R   1

Average                    -0.1%        15    2.0%    1.4%        5

*****************************************************************************

PRICE MOMENTUM MODEL SIGNALS

The SWENLIN PRICE MOMENTUM MODEL is intended to catch long-term price moves.
Model Signals are mechanically generated by a 200-day exponential moving
average crossover in conjunction with a 10% price move in the opposite
direction of the current signal extreme. For example, assume that the current
signal is a BUY. If the price drops 10% from the signal high, and also drops
below the 200 DMA, a SELL Signal will be generated automatically. The
MOMENTUM MODEL SIGNALS work best when prices are trending and changing
direction smoothly. When prices are volatile, particularly in a 10% range,
results will be extremely poor. By design, these signals will always miss at
least the first 10% of a move. Rather than wait for a signal reversal, it is
best to use trend analysis and other indicators to decide when to exit a
position. New signals should alert you to the possibility that a change in
direction is taking place. Once alerted, watch price movement and other
indicators to determine an optimum entry point, if any.

SUMMARY OF PRICE MOMENTUM MODEL (PMM) SIGNALS

                    BUY   SELL

Total Signals...:    46      8
% of Total......:   85%    15%
Ave Days Elapsed:   552     68
Ave High Profit.:   41%     4%
Ave Profit......:   38%     0%
Ave Rel to STOP.:    9%    -6%

PRICE MOMENTUM MODEL SIGNALS

This is a list of PRICE MOMENTUM MODEL SIGNALS for market and sector
indexes. The newest signals give notice that the trend may be in the
process of making a long-term change of direction.

THIS IS A LIST OF CANDIDATES FOR FURTHER RESEARCH AND IS NEITHER A
SOLICITATION NOR RECOMMENDATION TO BUY OR SELL THE LISTED SECURITIES.

                    05/13              Cal                          Price
                    Close      %      Days   High  Today           Rel to
Name                Price Change Sgnl Elap    P/L    P/L     STOP    Stop
---------------- -------- ------ ---- ---- ------ ------ -------- -------
Insurance iSh       47.01   0.0%  BUY   40   1.2%   1.2%    42.31  +11.1%
Oil Service In     286.51  -0.3%  BUY   46   4.5%  -0.7%   271.34   +5.6%
Retail SPDR         84.51  -0.4%  BUY   75   1.6%  -1.3%    78.31   +7.9%
Gold              1294.80  -0.1%  BUY   78   3.3%  -3.2%  1244.25   +4.1%
US Oil Fund         37.04  +1.2%  BUY   84   2.7%   1.0%    33.89   +9.3%
Dow Utilities      535.85  +0.3%  BUY   89   7.6%   3.8%   499.99   +7.2%
Agribusiness        54.86  +0.3%  BUY  179   3.5%   3.5%    49.37  +11.1%
Real Estate iS      70.80  -0.6%  BUY  208   8.2%   7.6%    64.10  +10.5%
Housing Index      197.38  +0.2%  BUY  237  12.7%   4.5%   191.56   +3.0%
Commodities iSh     33.39  +0.7%  BUY  299   3.0%   0.6%    30.76   +8.5%
Networking Ind     329.17  -0.4%  BUY  363  47.7%  38.4%   313.11   +5.1%
Comp/Tech Indx    1392.47  +0.2%  BUY  376  24.2%  23.8%  1257.20  +10.8%
Nasdaq 100        3611.13   0.0%  BUY  448  33.9%  29.8%  3354.47   +7.7%
Health Care Prd     75.86  -0.5%  BUY  480  37.9%  29.6%    72.63   +4.4%
Energy iShares      53.96  +0.4%  BUY  481  28.9%  28.2%    48.84  +10.5%
Oil Index         1628.53  +0.2%  BUY  483  26.6%  26.2%  1469.53  +10.8%
Nasdaq Comp       4130.17  -0.3%  BUY  488  39.6%  32.3%  3922.17   +5.3%
Basic Mat'ls iSh    85.30  +0.1%  BUY  496  22.8%  22.8%    76.77  +11.1%
Semiconductor      581.88  -0.8%  BUY  496  49.1%  45.6%   530.31   +9.7%
S&P 600 Sml-Cap    649.20  -1.2%  BUY  509  43.0%  35.9%   614.62   +5.6%
Russell 2000      1121.16  -1.1%  BUY  511  42.6%  32.3%  1087.79   +3.1%
Brokerage Index    154.83  -0.9%  BUY  522  87.5%  76.3%   147.57   +4.9%
Airline Index       82.90  -0.1%  BUY  587 109.9% 109.6%    70.37  +17.8%
Aerospace iSh      111.25   0.0%  BUY  613  74.5%  73.9%   100.24  +11.0%
Medical Del iSh     97.88  -0.4%  BUY  613  51.0%  46.7%    90.66   +8.0%
S&P 400 Mid-Cap   1368.10  -0.5%  BUY  616  42.0%  39.3%  1255.19   +9.0%
Defense Index      687.79  +0.1%  BUY  634  76.5%  76.3%   618.62  +11.2%
DJUS Tot Market  19824.90  -0.1%  BUY  635  36.3%  35.6% 17934.34  +10.5%
Cyclical iShares    81.63  -0.1%  BUY  635  50.5%  45.1%    76.17   +7.2%
Chemical           523.85  -0.1%  BUY  642  42.3%  42.1%   472.08  +11.0%
NYSE Comp        10702.86   0.0%  BUY  644  33.5%  33.5%  9633.15  +11.1%
Technology Ind    1790.92  -0.3%  BUY  644  47.7%  42.8%  1666.75   +7.5%
Health Care Prov    97.88   0.0%  BUY  669  53.0%  50.3%    89.65   +9.2%
Natural Gas In     899.00  +0.1%  BUY  679  43.5%  41.5%   818.54   +9.8%
Financial iSh       81.00  -0.3%  BUY  680  51.8%  49.6%    73.98   +9.5%
Telecom Index     1307.12  +0.3%  BUY  680  39.8%  39.8%  1176.41  +11.1%
Dollar Index        80.19  +0.3%  BUY  882   5.7%  -0.1%    76.37   +5.0%
Dow Transports    7903.51  +0.5%  BUY  932  61.2%  61.2%  7113.16  +11.1%
Dow Industrials  16715.44  +0.1%  BUY  935  41.6%  41.6% 15043.90  +11.1%
S&P 500           1897.45   0.0%  BUY  935  53.2%  53.2%  1707.71  +11.1%
S&P 100            841.06  +0.1%  BUY  935  50.6%  50.6%   756.95  +11.1%
Consumer Non-Cyc    97.85  +0.2%  BUY  935  50.7%  50.7%    88.07  +11.1%
Broadcast/Entert   989.72  -0.6%  BUY  942 115.7% 109.2%   918.17   +7.8%
Consumer iShares   120.06  -0.2%  BUY  986  87.9%  81.6%   111.86   +7.3%
Health Care iSh    122.94  +0.1%  BUY  986  91.9%  86.3%   113.96   +7.9%
Pharmaceutical     509.08  +0.3%  BUY  986  63.6%  61.1%   465.08   +9.5%
Banking iSh         38.44  -1.3% SELL    7   0.0%  -2.0%    41.45   -7.3%
Disk Drive Index   108.79  +1.0% SELL   18   9.3%   6.0%   116.37   -6.5%
Biotech iShares    230.51  -0.6% SELL   32   0.0%  -7.0%   236.91   -2.7%
Software iShares    79.78  -0.8% SELL   32   0.0%  -2.8%    85.36   -6.5%
Internet ETF        54.84  -0.5% SELL   33   5.5%   1.8%    58.03   -5.5%
Silver              19.55  +0.1% SELL   48   3.7%   1.2%    21.14   -7.5%
Gold Index (XAU)    90.39  -0.3% SELL   50   4.8%   3.8%    98.32   -8.1%
30-Yr Bond         135.20  +0.5% SELL  327   7.4%   1.7%   140.09   -3.5%

Average                    -0.1%       481  35.9%  32.6%            +6.6%

*****************************************************************************

SHORT-TERM (PMO) and LONG-TERM (PMM) SIGNAL COMPARISONS

The Price Momentum Model (PMM) signal provides guidance regarding the
longer-term trend, and the Price Momentum Oscillator (PMO) signals identify
the shorter-term trend. A logical trading methodology is to open positions
on new PMO signals when they are compatable with the PMM signals. Positions
may be closed or hedged when the PMM and PMO signals are in conflict.

This section compares the PMO and PMM signals side by side and provides
some mechanical analysis. A "Warn!" flag is an alert that the PMO signal is
in conflict with the PMM -- closing or hedging the PMM position may be
considered. A "Buy?" or "Sell?" flag is an alert that the PMO signal has
just changed and is the same as the PMM signal -- opening new PMM positions
may be considered.

The list is sorted in order of PMO relative strength.

SUMMARY OF SHORT-TERM AND LONG-TERM SIGNALS FOR MARKET AND SECTOR INDEXES

                     SHORT-TERM                  LONG-TERM
                      PMO   PMO                  PMM   PMM
                      BUY  SELL                  BUY  SELL

Total Signals...:    38     16                   46      8
% of Total......:   70%    30%                  85%    15%
Ave Days Elapsed:    11     25                  552     68
Ave High Profit.:    1%     3%                  42%     4%
Ave Profit......:    1%     2%                  38%     0%
Ave Rel to STOP.:                                9%    -6%

Percentage of PMOs Rising........:  83%
Percentage of PMOs Above Zero....:  59%

                       |- PMO Crossover Model --|-- Price Momentum Model --|
                       |  PMO       High  Today |  PMM         High   Today|
Name               Flag| Sgnl Day    P/L    P/L | Sgnl Days     P/L     P/L|
----------------- -----| ---- --- ------ ------ | ---- ---- ------- -------|
Dow Industrials           BUY  21  +1.2%  +1.2%    BUY  935  +41.6%  +41.6%
S&P 500                   BUY  20  +1.2%  +1.2%    BUY  935  +53.2%  +53.2%
S&P 100                   BUY  20  +1.4%  +1.4%    BUY  935  +50.6%  +50.6%
NYSE Comp                 BUY  21  +1.0%  +1.0%    BUY  644  +33.5%  +33.5%
Nasdaq Comp               BUY   1   0.0%  -0.3%    BUY  488  +39.6%  +32.3%
Nasdaq 100                BUY  19  +0.6%  +0.6%    BUY  448  +33.9%  +29.8%
Russell 2000      Warn!  SELL  53  +8.1%  +6.1%    BUY  511  +42.6%  +32.3%
S&P 400 Mid-Cap           BUY  11  +1.0%  +0.5%    BUY  616  +42.0%  +39.3%
S&P 600 Sml-Cap   Warn!  SELL  49  +5.1%  +3.3%    BUY  509  +43.0%  +35.9%
DJUS Tot Market           BUY   1   0.0%  -0.1%    BUY  635  +36.3%  +35.6%
Aerospace iSh             BUY  14  +3.0%  +3.0%    BUY  613  +74.5%  +73.9%
Agribusiness      Warn!  SELL   5  +0.3%  -0.7%    BUY  179   +3.5%   +3.5%
Airline Index             BUY   1   0.0%  -0.1%    BUY  587 +109.9% +109.6%
Banking iSh              SELL  36  +7.8%  +6.0%   SELL    7    0.0%   -2.0%
Basic Mat'ls iSh          BUY   8  +1.3%  +1.3%    BUY  496  +22.8%  +22.8%
Biotech iShares   Warn!   BUY  20  +1.0%  -0.2%   SELL   32   +0.0%   -7.0%
Broadcast/Entert          BUY  19  +2.2%  +1.6%    BUY  942 +115.7% +109.2%
Brokerage Index           BUY   1   0.0%  -0.9%    BUY  522  +87.5%  +76.3%
Chemical                  BUY   6  +0.5%  +0.4%    BUY  642  +42.3%  +42.2%
Comp/Tech Indx            BUY   1  +0.2%  +0.2%    BUY  376  +24.2%  +23.8%
Consumer iShares          BUY  13  +1.3%  +1.1%    BUY  986  +88.0%  +81.6%
Consumer Non-Cyc          BUY  22  +1.9%  +1.9%    BUY  935  +50.7%  +50.7%
Cyclical iShares          BUY   1   0.0%  -0.1%    BUY  635  +50.5%  +45.1%
Defense Index             BUY  11  +1.8%  +1.8%    BUY  634  +76.5%  +76.3%
Disk Drive Index         SELL  63 +15.5% +12.3%   SELL   18   +9.4%   +6.0%
Energy iShares    Warn!  SELL   4   0.0%  -1.0%    BUY  481  +28.9%  +28.2%
Gold Index (XAU)         SELL   5  +0.6%  -0.5%   SELL   50   +4.8%   +3.8%
Health Care iSh           BUY  15  +1.5%  +1.5%    BUY  986  +91.9%  +86.3%
Financial iSh             BUY   1   0.0%  -0.3%    BUY  680  +51.8%  +49.6%
Health Care Prov          BUY   5  +2.4%  +2.4%    BUY  669  +53.0%  +50.3%
Health Care Prd           BUY   4  +2.9%  +2.4%    BUY  480  +37.9%  +29.6%
Housing Index             BUY  12  +1.2%  +1.0%    BUY  237  +12.7%   +4.5%
Insurance iSh             BUY  19  +2.1%  +2.1%    BUY   40   +1.2%   +1.2%
Internet ETF      Warn! * BUY   0   0.0%  -0.4%   SELL   33   +5.5%   +1.8%
Medical Del iSh           BUY   4  +1.4%  +1.0%    BUY  613  +51.0%  +46.7%
Natural Gas In    Warn!  SELL   5  +0.3%  -0.2%    BUY  679  +43.5%  +41.5%
Networking Ind    Warn!  SELL  76  +7.3%  +5.1%    BUY  363  +47.7%  +38.4%
Oil Index                 BUY  49  +9.8%  +9.4%    BUY  483  +26.6%  +26.2%
Oil Service In    Warn!  SELL  14  +2.1%  +2.1%    BUY   46   +4.5%   -0.7%
Pharmaceutical    Warn! *SELL   0   0.0%  +0.1%    BUY  986  +63.6%  +61.1%
Real Estate iS            BUY  26  +3.7%  +3.0%    BUY  208   +8.2%   +7.6%
Retail SPDR               BUY   1   0.0%  -0.4%    BUY   75   +1.7%   -1.3%
Semiconductor     Warn!  SELL  39  +3.3%  -0.5%    BUY  496  +49.1%  +45.6%
Software iShares  Warn!   BUY   1   0.0%  -0.8%   SELL   32    0.0%   -2.8%
Technology Ind            BUY   1   0.0%  -0.4%    BUY  644  +47.7%  +42.8%
Telecom Index             BUY  11  +2.7%  +2.7%    BUY  680  +39.8%  +39.8%
Dow Transports            BUY  22  +2.8%  +2.8%    BUY  932  +61.2%  +61.2%
Dow Utilities     Warn!  SELL   8  +2.5%  +2.2%    BUY   89   +7.6%   +3.8%
Commodities iSh   Warn!  SELL  13  +0.9%  -0.3%    BUY  299   +3.0%   +0.6%
Dollar Index              BUY   1  +0.3%  +0.3%    BUY  882   +5.8%   -0.1%
US Oil Fund       Warn!  SELL  18  +1.3%  -1.2%    BUY   84   +2.7%   +1.0%
30-Yr Bond        Warn!   BUY  32  +1.0%  +0.8%   SELL  327   +7.4%   +1.7%
Gold              Warn!  SELL   6  -0.0%  -0.5%    BUY   78   +3.3%   -3.2%
Silver            Warn!   BUY   1  +0.1%  +0.0%   SELL   48   +3.7%   +1.2%



Next is the Expanded Market Summary. This report, next to the DP Alert Report, is one of the most popular reports on the DP website. You can see why below. It contains very detailed price change information for the major indexes and sectors for the last five trading days. This is followed by Interest Rate, Currency, Commodities, Breadth and Volume, Traditional and Ratio-Adjusted McClellan Oscillator analysis. Finally the report closes with analysis of precious metals, sentiment and earnings. 


DECISION POINT
EXPANDED MARKET SUMMARY
Tuesday  5/13/2014


********************* MARKET and SECTOR INDEX ANALYSIS **********************

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
Dow Industrials ($INDU).....: 16715.44 16695.47 16583.34 16550.97 16518.54
   Points Change............:   +19.97  +112.13   +32.37   +32.43  +117.52
   Percent Change...........:    +0.1%    +0.7%    +0.2%    +0.2%    +0.7%

S&P 500 ($SPX)..............:  1897.45  1896.65  1878.48  1875.63  1878.21
   Points Change............:    +0.80   +18.17    +2.85    -2.58   +10.49
   Percent Change...........:     0.0%    +1.0%    +0.2%    -0.1%    +0.6%

S&P 100 ($OEX)..............:   841.06   839.97   832.96   831.59   832.00
   Points Change............:    +1.09    +7.01    +1.37    -0.41    +4.94
   Percent Change...........:    +0.1%    +0.8%    +0.2%     0.0%    +0.6%

NYSE Comp ($NYA)............: 10702.86 10703.50 10606.69 10610.65 10626.84
   Points Change............:    -0.64   +96.81    -3.96   -16.19   +58.16
   Percent Change...........:     0.0%    +0.9%     0.0%    -0.2%    +0.6%

Nasdaq Comp ($COMPQ)........:  4130.17  4143.86  4071.87  4051.50  4067.67
   Points Change............:   -13.69   +71.99   +20.37   -16.17   -13.09
   Percent Change...........:    -0.3%    +1.8%    +0.5%    -0.4%    -0.3%

Nasdaq 100 ($NDX)...........:  3611.13  3612.73  3555.70  3540.42  3546.47
   Points Change............:    -1.60   +57.03   +15.28    -6.05   -10.04
   Percent Change...........:     0.0%    +1.6%    +0.4%    -0.2%    -0.3%

Russell 2000 ($RUT).........:  1121.16  1133.65  1107.22  1097.43  1108.55
   Points Change............:   -12.49   +26.43    +9.79   -11.12    +0.54
   Percent Change...........:    -1.1%    +2.4%    +0.9%    -1.0%     0.0%

S&P 400 Mid-Cap ($MID)......:  1368.10  1374.58  1353.79  1350.53  1357.46
   Points Change............:    -6.48   +20.79    +3.26    -6.93    +5.90
   Percent Change...........:    -0.5%    +1.5%    +0.2%    -0.5%    +0.4%

S&P 600 Sml-Cap ($SML)......:   649.20   657.08   642.69   637.59   642.91
   Points Change............:    -7.88   +14.39    +5.10    -5.32    +2.66
   Percent Change...........:    -1.2%    +2.2%    +0.8%    -0.8%    +0.4%

DJUS Tot Market ($DWCF).....: 19824.90 19841.58 19621.01 19579.49 19632.67
   Points Change............:   -16.68  +220.57   +41.52   -53.18   +92.54
   Percent Change...........:    -0.1%    +1.1%    +0.2%    -0.3%    +0.5%

AMEX ($XAX).................:  2630.76  2633.38  2596.41  2612.89  2620.74
   Points Change............:    -2.62   +36.97   -16.48    -7.85    +9.49
   Percent Change...........:    -0.1%    +1.4%    -0.6%    -0.3%    +0.4%

Aerospace iSh (ITA).........:   111.25   111.25   109.61   109.42   109.82
   Points Change............:     0.00    +1.64    +0.19    -0.40    +0.84
   Percent Change...........:     0.0%    +1.5%    +0.2%    -0.4%    +0.8%

Agribusiness (MOO)..........:    54.86    54.67    54.32    54.47    54.79
   Points Change............:    +0.19    +0.35    -0.15    -0.32    +0.52
   Percent Change...........:    +0.3%    +0.6%    -0.3%    -0.6%    +1.0%

Airline Index ($XAL)........:    82.90    83.02    80.60    80.65    80.53
   Points Change............:    -0.12    +2.42    -0.05    +0.12    +0.38
   Percent Change...........:    -0.1%    +3.0%    -0.1%    +0.1%    +0.5%

Banking iSh (KRE)...........:    38.44    38.94    38.22    37.89    38.06
   Points Change............:    -0.50    +0.72    +0.33    -0.17    +0.38
   Percent Change...........:    -1.3%    +1.9%    +0.9%    -0.4%    +1.0%

Basic Mat'ls iSh (IYM)......:    85.30    85.25    84.02    84.05    84.50
   Points Change............:    +0.05    +1.23    -0.03    -0.45    +0.63
   Percent Change...........:    +0.1%    +1.5%     0.0%    -0.5%    +0.8%

Biotech iShares (IBB).......:   230.51   231.92   226.44   223.35   227.48
   Points Change............:    -1.41    +5.48    +3.09    -4.13    -1.85
   Percent Change...........:    -0.6%    +2.4%    +1.4%    -1.8%    -0.8%

Broadcast/Entert ($DJUSBC)..:   989.72   995.93   989.94   988.98   984.24
   Points Change............:    -6.21    +5.99    +0.96    +4.74    +1.06
   Percent Change...........:    -0.6%    +0.6%    +0.1%    +0.5%    +0.1%

Brokerage Index ($XBD)......:   154.83   156.22   152.36   151.63   153.50
   Points Change............:    -1.39    +3.86    +0.73    -1.87    +1.44
   Percent Change...........:    -0.9%    +2.5%    +0.5%    -1.2%    +0.9%

Chemical ($DJUSCH)..........:   523.85   524.53   518.85   519.09   521.90
   Points Change............:    -0.68    +5.68    -0.24    -2.81    +4.58
   Percent Change...........:    -0.1%    +1.1%     0.0%    -0.5%    +0.9%

Comp/Tech Indx ($XCI).......:  1392.47  1390.22  1368.09  1364.98  1364.96
   Points Change............:    +2.25   +22.13    +3.11    +0.02    -4.80
   Percent Change...........:    +0.2%    +1.6%    +0.2%     0.0%    -0.4%

Consumer iShares (IYC)......:   120.06   120.27   118.84   117.98   117.94
   Points Change............:    -0.21    +1.43    +0.86    +0.04    -0.24
   Percent Change...........:    -0.2%    +1.2%    +0.7%     0.0%    -0.2%

Consumer Non-Cyc (IYK)......:    97.85    97.68    97.17    96.88    96.89
   Points Change............:    +0.17    +0.51    +0.29    -0.01    +1.00
   Percent Change...........:    +0.2%    +0.5%    +0.3%     0.0%    +1.0%

Cyclical iShares (RXI)......:    81.63    81.74    80.82    80.40    80.67
   Points Change............:    -0.11    +0.92    +0.42    -0.27    -0.07
   Percent Change...........:    -0.1%    +1.1%    +0.5%    -0.3%    -0.1%

Defense Index ($DFX)........:   687.79   687.14   677.88   676.97   679.15
   Points Change............:    +0.65    +9.26    +0.91    -2.18    +4.04
   Percent Change...........:    +0.1%    +1.4%    +0.1%    -0.3%    +0.6%

Disk Drive Index ($DDX).....:   108.79   107.73   105.92   104.91   105.68
   Points Change............:    +1.06    +1.81    +1.01    -0.77    -5.54
   Percent Change...........:    +1.0%    +1.7%    +1.0%    -0.7%    -5.0%

Energy iShares (IYE)........:    53.96    53.72    53.41    53.40    54.27
   Points Change............:    +0.24    +0.31    +0.01    -0.87    +0.47
   Percent Change...........:    +0.4%    +0.6%     0.0%    -1.6%    +0.9%

Gold Index (XAU) ($XAU).....:    90.39    90.63    89.38    89.91    90.03
   Points Change............:    -0.24    +1.25    -0.53    -0.12    -1.98
   Percent Change...........:    -0.3%    +1.4%    -0.6%    -0.1%    -2.2%

Health Care iSh (IYH).......:   122.94   122.87   121.50   120.80   121.53
   Points Change............:    +0.07    +1.37    +0.70    -0.73    +0.31
   Percent Change...........:    +0.1%    +1.1%    +0.6%    -0.6%    +0.3%

Financial iSh (IYF).........:    81.00    81.21    80.41    80.40    80.25
   Points Change............:    -0.21    +0.80    +0.01    +0.15    +1.03
   Percent Change...........:    -0.3%    +1.0%     0.0%    +0.2%    +1.3%

Health Care Prov (IHF)......:    97.88    97.89    96.44    95.58    96.36
   Points Change............:    -0.01    +1.45    +0.86    -0.78    +1.44
   Percent Change...........:     0.0%    +1.5%    +0.9%    -0.8%    +1.5%

Health Care Prd (XHE).......:    75.86    76.23    74.10    73.74    73.54
   Points Change............:    -0.37    +2.13    +0.36    +0.20    -0.93
   Percent Change...........:    -0.5%    +2.9%    +0.5%    +0.3%    -1.2%

Housing Index ($HGX)........:   197.38   197.02   193.60   193.13   193.85
   Points Change............:    +0.36    +3.42    +0.47    -0.72    +0.20
   Percent Change...........:    +0.2%    +1.8%    +0.2%    -0.4%    +0.1%

Insurance iSh (IAK).........:    47.01    46.99    46.40    46.40    46.03
   Points Change............:    +0.02    +0.59     0.00    +0.37    +0.57
   Percent Change...........:     0.0%    +1.3%     0.0%    +0.8%    +1.3%

Internet ETF (FDN)..........:    54.84    55.11    53.37    52.75    52.87
   Points Change............:    -0.27    +1.74    +0.62    -0.12    -1.05
   Percent Change...........:    -0.5%    +3.3%    +1.2%    -0.2%    -1.9%

Medical Del iSh (IHI).......:    97.88    98.27    96.96    96.21    96.13
   Points Change............:    -0.39    +1.31    +0.75    +0.08    +0.23
   Percent Change...........:    -0.4%    +1.4%    +0.8%    +0.1%    +0.2%

Natural Gas In ($XNG).......:   899.00   898.10   894.52   897.61   911.80
   Points Change............:    +0.90    +3.58    -3.09   -14.19    +9.64
   Percent Change...........:    +0.1%    +0.4%    -0.3%    -1.6%    +1.1%

Networking Ind ($NWX).......:   329.17   330.37   321.29   322.45   322.79
   Points Change............:    -1.20    +9.08    -1.16    -0.34    -0.33
   Percent Change...........:    -0.4%    +2.8%    -0.4%    -0.1%    -0.1%

Oil Index ($XOI)............:  1628.53  1624.50  1614.61  1619.36  1634.48
   Points Change............:    +4.03    +9.89    -4.75   -15.12    +7.88
   Percent Change...........:    +0.2%    +0.6%    -0.3%    -0.9%    +0.5%

Oil Service In ($OSX).......:   286.51   287.25   290.66   292.15   296.37
   Points Change............:    -0.74    -3.41    -1.49    -4.22    +2.21
   Percent Change...........:    -0.3%    -1.2%    -0.5%    -1.4%    +0.8%

Pharmaceutical ($DRG).......:   509.08   507.53   504.99   505.12   508.39
   Points Change............:    +1.55    +2.54    -0.13    -3.27    -1.09
   Percent Change...........:    +0.3%    +0.5%     0.0%    -0.6%    -0.2%

Real Estate iS (IYR)........:    70.80    71.22    71.07    71.08    71.04
   Points Change............:    -0.42    +0.15    -0.01    +0.04    +0.82
   Percent Change...........:    -0.6%    +0.2%     0.0%    +0.1%    +1.2%

Retail SPDR (XRT)...........:    84.51    84.88    83.26    81.80    81.33
   Points Change............:    -0.37    +1.62    +1.46    +0.47    -0.86
   Percent Change...........:    -0.4%    +1.9%    +1.8%    +0.6%    -1.0%

Semiconductor ($SOX)........:   581.88   586.48   575.97   577.83   573.99
   Points Change............:    -4.60   +10.51    -1.86    +3.84    +0.50
   Percent Change...........:    -0.8%    +1.8%    -0.3%    +0.7%    +0.1%

Software iShares (IGV)......:    79.78    80.45    78.46    78.08    78.35
   Points Change............:    -0.67    +1.99    +0.38    -0.27    +0.12
   Percent Change...........:    -0.8%    +2.5%    +0.5%    -0.3%    +0.2%

Technology Ind ($PSE).......:  1790.92  1797.13  1769.19  1761.06  1766.61
   Points Change............:    -6.21   +27.94    +8.13    -5.55    +1.59
   Percent Change...........:    -0.3%    +1.6%    +0.5%    -0.3%    +0.1%

Telecom Index ($XTC)........:  1307.12  1302.67  1295.44  1294.95  1286.93
   Points Change............:    +4.45    +7.23    +0.49    +8.02    +9.31
   Percent Change...........:    +0.3%    +0.6%     0.0%    +0.6%    +0.7%

Dow Transports ($TRAN)......:  7903.51  7867.45  7719.30  7703.70  7700.26
   Points Change............:   +36.06  +148.15   +15.60    +3.44   +43.75
   Percent Change...........:    +0.5%    +1.9%    +0.2%     0.0%    +0.6%

Dow Utilities ($UTIL).......:   535.85   534.49   539.55   547.44   553.66
   Points Change............:    +1.36    -5.06    -7.89    -6.22    +8.80
   Percent Change...........:    +0.3%    -0.9%    -1.4%    -1.1%    +1.6%


************************* INTEREST RATE ANALYSIS ****************************

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
30-Yr Bond (!USB)...........:   135.20   134.55   135.16   135.25   135.46
   Points Change............:    +0.65    -0.61    -0.09    -0.21    +0.12
   Percent Change...........:    +0.5%    -0.5%    -0.1%    -0.2%    +0.1%

30-Yr Bond Yld ($TYX).......:    34.54    34.92    34.67    34.15    34.03
   Points Change............:    -0.38    +0.25    +0.52    +0.12    +0.22
   Percent Change...........:    -1.1%    +0.7%    +1.5%    +0.4%    +0.7%

10-Yr T-Note Yld ($TNX).....:    26.18    26.56    26.23    26.02    25.90
   Points Change............:    -0.38    +0.33    +0.21    +0.12    -0.05
   Percent Change...........:    -1.4%    +1.3%    +0.8%    +0.5%    -0.2%

5-Yr T-Note Yld ($FVX)......:    16.20    16.58    16.25    16.18    16.46
   Points Change............:    -0.38    +0.33    +0.07    -0.28    -0.35
   Percent Change...........:    -2.3%    +2.0%    +0.4%    -1.7%    -2.1%

3-Mo T-Bill Yld ($IRX)......:     0.20     0.20     0.22     0.22     0.20
   Points Change............:     0.00    -0.02     0.00    +0.02     0.00
   Percent Change...........:     0.0%    -9.1%     0.0%   +10.0%     0.0%

*************************** CURRENCY ANALYSIS *******************************

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
Dollar Index ($USD).........:    80.19    79.95    79.93    79.48    79.27
   Points Change............:    +0.24    +0.02    +0.45    +0.21    +0.11
   Percent Change...........:    +0.3%     0.0%    +0.6%    +0.3%    +0.1%

Euro ($XEU).................:   137.02   137.58   137.70   138.38   139.11
   Points Change............:    -0.56    -0.12    -0.68    -0.73    -0.17
   Percent Change...........:    -0.4%    -0.1%    -0.5%    -0.5%    -0.1%

Japanese Yen ($XJY).........:    97.80    97.92    98.17    98.38    98.14
   Points Change............:    -0.12    -0.25    -0.21    +0.24    -0.22
   Percent Change...........:    -0.1%    -0.3%    -0.2%    +0.2%    -0.2%

British Pound ($XBP)........:   168.26   168.68   168.50   169.33   169.55
   Points Change............:    -0.42    +0.18    -0.83    -0.22    -0.20
   Percent Change...........:    -0.2%    +0.1%    -0.5%    -0.1%    -0.1%

Canadian Dollar ($CDW)......:    91.69    91.82    91.73    92.35    91.76
   Points Change............:    -0.13    +0.09    -0.62    +0.59    -0.07
   Percent Change...........:    -0.1%    +0.1%    -0.7%    +0.6%    -0.1%

Aussie Dollar ($XAD)........:    93.57    93.62    93.62    93.72    93.27
   Points Change............:    -0.05     0.00    -0.10    +0.45    -0.24
   Percent Change...........:    -0.1%     0.0%    -0.1%    +0.5%    -0.3%

************************** COMMODITIES ANALYSIS *****************************

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
Oil - Lt Crude ($WTIC)......:   101.70   100.62   100.07   100.27   100.85
   Points Change............:    +1.08    +0.55    -0.20    -0.58    +0.99
   Percent Change...........:    +1.1%    +0.5%    -0.2%    -0.6%    +1.0%

Commodities iSh (GSG).......:    33.39    33.16    33.00    33.16    33.23
   Points Change............:    +0.23    +0.16    -0.16    -0.07    +0.15
   Percent Change...........:    +0.7%    +0.5%    -0.5%    -0.2%    +0.5%

Gold ($GOLD)................:  1294.80  1295.50  1289.40  1289.60  1289.70
   Points Change............:    -0.70    +6.10    -0.20    -0.10   -18.00
   Percent Change...........:    -0.1%    +0.5%     0.0%     0.0%    -1.4%

Silver ($SILVER)............:    19.55    19.53    19.18    19.18    19.33
   Points Change............:    +0.02    +0.35     0.00    -0.15    -0.25
   Percent Change...........:    +0.1%    +1.8%     0.0%    -0.8%    -1.3%


********************** VOLUME and BREADTH ANALYSIS **************************

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
NYSE COMPOSITE Volume (Mil).:  2847.05  2979.56  3006.61  3373.42  3596.04
% of Average Daily Volume...:      85%      89%      90%     101%     108%

NYSE PRIMARY Volume (Mil)...:   604.06   640.64   651.26   694.65   765.88
% of Average Daily Volume...:      83%      89%      90%      96%     106%
NYSE Advancing Volume (Mil).:   281.26   539.03   302.91   280.92   506.98
NYSE Declining Volume (Mil).:   313.34    93.73   341.80   407.24   251.23
  Adv Vol-Decl Vol..........:      -32     +445      -39     -126     +256
  Adv Vol/Decl Vol..........:      0.9      5.8      0.9      0.7      2.0
  *Greater than 9 is Bullish

NASDAQ Volume (Millions)....:  1858.86  1851.05  1962.84  2399.93  2451.71
% of Average Daily Volume...:      97%      96%     102%     125%     128%
NASDAQ Advancing Vol (Mil)..:   786.59  1551.89  1098.76   910.45   881.52
NASDAQ Declining Vol (Mil)..:  1001.66   291.99   729.33  1434.67  1548.25
  Adv Vol-Decl Vol..........:     -215    +1260     +369     -524     -667

NDX Volume (Millions).......:   596.28   529.16   526.86   657.02   820.36
% of Average Daily Volume...:      90%      80%      80%     100%     124%
NDX Advancing Vol (Mil).....:   259.17   479.92   287.71   296.80   316.57
NDX Declining Vol (Mil).....:   285.89    47.67   230.78   324.54   502.39

SPX Volume (Millions).......:  1769.83  1812.64  1877.64  2064.71  2360.27
% of Average Daily Volume...:      78%      80%      83%      91%     105%
SPX Advancing Vol (Mil).....:   805.25  1544.82   898.31   978.76  1485.14
SPX Declining Vol (Mil).....:   896.72   260.94   965.35  1079.26   857.83

OEX Volume (Millions).......:   787.52   788.95   799.29   905.36  1023.38
% of Average Daily Volume...:      74%      74%      75%      85%      96%
OEX Advancing Vol (Mil).....:   373.50   690.87   359.45   478.55   699.88
OEX Declining Vol (Mil).....:   352.90    96.34   433.12   426.75   318.15

Dow Volume (Millions).......:   310.43   279.62   267.83   322.59   376.62
% of Average Daily Volume...:      71%      64%      61%      74%      86%
Dow Advancing Vol (Mil).....:   155.02   231.52   118.18   216.92   284.54
Dow Declining Vol (Mil).....:   155.42    47.51   149.46   105.62    92.01

S&P 400 Volume (Millions)...:   439.97   466.18   437.42   547.78   540.68
S&P 400 Advancing Vol (Mil).:   188.25   399.55   248.05   173.92   314.31
S&P 400 Declining Vol (Mil).:   247.51    66.17   183.05   370.79   221.31

S&P 600 Volume (Millions)...:   291.99   271.33   288.78   298.78   320.88
S&P 600 Advancing Vol (Mil).:    86.74   241.48   162.72    95.13   172.94
S&P 600 Declining Vol (Mil).:   203.54    25.71   121.65   202.31   146.82

DJTA Volume (Millions)......:    45.62    50.15    46.70    53.40    49.80
DJTA Advancing Vol (Mil)....:    42.36    50.15    22.98    37.07    36.72
DJTA Declining Vol (Mil)....:     3.26     0.00    23.72    16.33     7.22

DJUA Volume (Millions)......:    52.22    59.72    60.35    55.38    58.23
DJUA Advancing Vol (Mil)....:    34.77     5.47     0.00     0.00    58.23
DJUA Declining Vol (Mil)....:    17.46    54.16    60.23    55.38     0.00

IMPORTANT NOTE:  Advancing and declining volume for the SPX, NDX, OEX, Dow,
SP MidCap, and SP SmlCap is not "tick volume". Total daily volume for each
stock in these indexes is cast into the advancing or declining column based
of whether the stock closes up or down.

NYSE Advances...............:     1404     2463     1746     1325     2033
NYSE Declines...............:     1741      672     1349     1811     1100
  Advances-Declines.........:     -337    +1791     +397     -486     +933
  Advances/Declines.........:      0.8      3.7      1.3      0.7      1.8
  10 DMA of Adv/Declines*...:     1.40     1.50     1.30     1.20     1.20
  *Greater than 2 is Bullish

NASDAQ Advances.............:      909     2141     1677      857     1178
NASDAQ Declines.............:     1768      544      952     1814     1464
  Advances-Declines.........:     -859    +1597     +725     -957     -286
  Advances/Declines.........:      0.5      3.9      1.8      0.5      0.8

NDX Advances................:       35       92       64       50       44
NDX Declines................:       63        8       34       49       56
  Advances-Declines.........:      -28      +84      +30       +1      -12

SPX Advances................:      217      429      279      217      365
SPX Declines................:      276       70      218      280      132
  Advances-Declines.........:      -59     +359      +61      -63     +233

OEX Advances................:       58       86       60       48       80
OEX Declines................:       39       14       39       52       20
  Advances-Declines.........:      +19      +72      +21       -4      +60

Dow Advances................:       17       24       19       18       25
Dow Declines................:       13        6       11       12        5
  Advances-Declines.........:       +4      +18       +8       +6      +20

S&P MidCap 400 Advances.....:       95      362      251      140      283
S&P MidCap 400 Declines.....:      301       38      140      256      112
  Advances-Declines.........:     -206     +324     +111     -116     +171

S&P SmlCap 600 Advances.....:       92      556      466      164      358
S&P SmlCap 600 Declines.....:      505       41      128      430      236
  Advances-Declines.........:     -413     +515     +338     -266     +122

DJTA Advances...............:       14       20        9       14       15
DJTA Declines...............:        6        0       11        6        4
  Advances-Declines.........:       +8      +20       -2       +8      +11

DJUA Advances...............:       10        2        0        0       15
DJUA Declines...............:        5       13       15       15        0
  Advances-Declines.........:       +5      -11      -15      -15      +15


NYSE New Highs..............:      147      165       69      153      142
NYSE New Lows...............:       20       14       61       49       78
  New Highs-New Lows........:     +127     +151       +8     +104      +64

NASDAQ New Highs............:       60       65       21       54       38
NASDAQ New Lows.............:       40       47      139      142      179
  New Highs-New Lows........:      +20      +18     -118      -88     -141

NDX New Highs...............:        8        7        1        4        6
NDX New Lows................:        0        0        1        1        4
  New Highs-New Lows........:       +8       +7        0       +3       +2

SPX New Highs...............:       58       52       16       43       44
SPX New Lows................:        0        0        2        2        5
  New Highs-New Lows........:      +58      +52      +14      +41      +39

OEX New Highs...............:       13       10        3        5        7
OEX New Lows................:        0        0        0        0        0
  New Highs-New Lows........:      +13      +10       +3       +5       +7

Dow New Highs...............:        4        3        1        2        1
Dow New Lows................:        0        0        0        0        0
  New Highs-New Lows........:       +4       +3       +1       +2       +1

S&P 400 New Highs...........:       31       31        3       31       23
S&P 400 New Lows............:        0        0        2        3        9
  New Highs-New Lows........:      +31      +31       +1      +28      +14

S&P 600 New Highs...........:       16       20        8       17       14
S&P 600 New Lows............:        1        0       15       16       33
  New Highs-New Lows........:      +15      +20       -7       +1      -19

DJTA New Highs..............:        6        3        0        0        1
DJTA New Lows...............:        0        0        0        0        0
  New Highs-New Lows........:       +6       +3        0        0       +1

DJUA New Highs..............:        0        1        0        1        2
DJUA New Lows...............:        0        0        0        0        0
  New Highs-New Lows........:        0       +1        0       +1       +2

Arms Index 1-Day (TRIN).....:     0.90     0.64     1.46     1.06     0.92
Arms Index 4-DMA (TRIN).....:     1.02     1.02     1.22     1.18     1.13
Arms Index 10-Day Open Arms.:     1.07     1.07     1.12     1.11     1.12
Arms Index 10-DMA (TRIN)....:     1.11     1.10     1.17     1.19     1.19
Arms Index 21-DMA (TRIN)....:     1.07     1.11     1.20     1.17     1.17
Arms Index 55-DMA (TRIN)....:     1.12     1.11     1.13     1.11     1.12

PMO Rising - SPX............:      70%      74%      53%      47%      52%
PMO Rising - OEX............:      77%      78%      54%      49%      51%
PMO Rising - NDX............:      63%      73%      50%      47%      40%
PMO Rising - Dow............:      73%      82%      55%      38%      36%

PMO BUY Signals - SPX.......:      59%      55%      49%      49%      50%
PMO BUY Signals - OEX.......:      59%      55%      51%      49%      50%
PMO BUY Signals - NDX.......:      53%      47%      50%      47%      47%
PMO BUY Signals - Dow.......:      60%      57%      48%      47%      50%

PMO Above Zero - SPX........:      68%      66%      63%      63%      63%
PMO Above Zero - OEX........:      74%      73%      72%      73%      72%
PMO Above Zero - NDX........:      73%      73%      73%      73%      73%
PMO Above Zero - Dow........:      43%      41%      39%      40%      41%

SPX  Stocks Above 200-DMA...:      86%      87%      84%      83%      82%
OEX  Stocks Above 200-DMA...:      89%      89%      87%      86%      84%
NDX  Stocks Above 200-DMA...:      73%      75%      69%      66%      67%
DJIA Stocks Above 200-DMA...:      90%      90%      90%      90%      90%
DJTA Stocks Above 200-DMA...:      90%      90%      90%      90%      90%
DJUA Stocks Above 200-DMA...:      93%      93%      93%      93%     100%

SPX  Stocks Above 50-DMA....:      72%      74%      64%      63%      62%
OEX  Stocks Above 50-DMA....:      79%      79%      75%      74%      71%
NDX  Stocks Above 50-DMA....:      47%      55%      40%      39%      36%
DJIA Stocks Above 50-DMA....:      83%      83%      73%      70%      73%
DJTA Stocks Above 50-DMA....:      95%      95%      75%      75%      70%
DJUA Stocks Above 50-DMA....:      47%      53%      73%      93%     100%

SPX  Stocks Above 20-DMA....:      73%      75%      58%      57%      60%
OEX  Stocks Above 20-DMA....:      82%      83%      71%      71%      69%
NDX  Stocks Above 20-DMA....:      56%      70%      46%      39%      38%
DJIA Stocks Above 20-DMA....:      83%      87%      73%      70%      67%
DJTA Stocks Above 20-DMA....:     100%      95%      75%      75%      70%
DJUA Stocks Above 20-DMA....:      13%       7%      27%      47%      93%


*****************************************************************************

TRADITIONAL McCLELLAN OSCILLATOR FIVE-DAY LOOKBACK

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
5% EMA of Adv-Decl..........:  +271.62  +303.65  +225.37  +216.34  +253.31
10% EMA of Adv-Decl.........:  +286.43  +355.70  +196.22  +173.91  +247.24

McClellan Oscillator........:   +14.81   +52.04   -29.15   -42.43    -6.07
  Net Change................:   -37.23   +81.19   +13.28   -36.36   +40.42

  A-D Req'd for No Chg McOsi:     +301
  A-D Req'd for McOsi = 0 ..:       +5

McClellan Summation Index...: +3582.96 +3568.16 +3516.11 +3545.26 +3587.69

** RATIO-ADJUSTED McCLELLAN OSCILLATOR FIVE-DAY LOOKBACK

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
5% EMA of Adv-Decl (RA).....:   +87.32   +97.56   +72.63   +69.70   +81.52
10% EMA of Adv-Decl (RA)....:   +91.90  +114.02   +63.21   +55.98   +79.42

McClellan Oscillator (RA)...:    +4.58   +16.46    -9.41   -13.71    -2.10
  Net Change................:   -11.88   +25.87    +4.30   -11.61   +12.88

McClellan Summation Index...:  +832.03  +827.45  +810.99  +820.40  +834.12

IT Breadth Momentum Osc.....:   +88.03   +87.09   +82.27   +85.43   +90.22
  Bottom/Top/Direction......:   Rising   Rising   Bottom  Falling  Falling

  A-D Req'd for ITBM TOP....:     +179
  A-D Req'd for ITBM = 0....:   -18157

  *Rather than simply subtracting declines from advances, Ratio-Adjusted
indicators are based on a ratio of advances and declines which is calculated
like this: (Advances-Declines)/(Advances+Declines)*1000.


OTHER MARKET INDEX McCLELLAN OSCILLATOR FIVE-DAY LOOKBACK (RATIO-ADJUSTED)

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
NASDAQ 5% EMA of A-D........:   -49.74   -35.47   -68.65   -86.77   -72.48
NASDAQ 10% EMA of A-D.......:   -52.44   -22.61   -91.21  -131.99  -106.85
NASDAQ McClellan Oscillator.:    -2.70   +12.86   -22.57   -45.22   -34.36
NASDAQ Summation Index......:  -473.16  -470.47  -483.33  -460.76  -415.54
NASDAQ ITBM Oscillator......:   -80.80   -83.65   -91.86   -89.42   -79.66

NDX 5% EMA of A-D...........:   +49.37   +67.00   +26.32   +11.59   +11.67
NDX 10% EMA of A-D..........:   +66.34  +105.46   +23.85    -7.52    -9.48
NDX McClellan Oscillator....:   +16.98   +38.46    -2.47   -19.11   -21.14
NDX Summation Index.........:  +340.85  +323.88  +285.42  +287.89  +307.00
NDX ITBM Oscillator.........:   +44.62   +40.32   +28.81   +29.64   +35.89

SPX 5% EMA of A-D...........:   +85.29   +96.08   +63.27   +60.14   +69.98
SPX 10% EMA of A-D..........:   +94.69  +118.51   +51.74   +43.85   +62.81
SPX McClellan Oscillator....:    +9.40   +22.43   -11.53   -16.29    -7.17
SPX Summation Index.........:  +768.36  +758.97  +736.54  +748.07  +764.36
SPX ITBM Oscillator.........:   +80.99   +78.42   +71.47   +74.94   +80.20

OEX 5% EMA of A-D...........:  +119.21  +115.17   +83.34   +76.56   +82.70
OEX 10% EMA of A-D..........:  +146.17  +140.64   +76.27   +61.17   +72.42
OEX McClellan Oscillator....:   +26.96   +25.47    -7.07   -15.39   -10.28
OEX Summation Index.........:  +949.48  +922.52  +897.05  +904.12  +919.51
OEX ITBM Oscillator.........:  +108.99  +101.86   +94.72   +97.56  +103.31

DJIA 5% EMA of A-D..........:   +96.26   +94.31   +67.69   +57.22   +49.70
DJIA 10% EMA of A-D.........:  +117.99  +116.28   +62.54   +39.86   +22.06
DJIA McClellan Oscillator...:   +21.73   +21.98    -5.15   -17.36   -27.64
DJIA Summation Index........:  +766.98  +745.24  +723.26  +728.42  +745.78
DJIA ITBM Oscillator........:   +68.71   +60.82   +52.22   +51.65   +54.89


************************* PARTICIPATION INDEX (PI) **************************

The PARTICIPATION INDEX (PI) tracks the percentage of stocks whose prices
are hitting the top or bottom of their short-term trend envelope, and are
indicating maximum UP or DOWN Participation in the current price move.

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
SPX UP Participation Index..:       32       58       27       25       39
SPX DOWN Participation Index:       15       10       20       23       22

OEX UP Participation Index..:       43       60       26       30       45
OEX DOWN Participation Index:        4        5       10       18       22

NDX UP Participation Index..:       32       59       22       19       16
NDX DOWN Participation Index:       20        2       20       28       39

Dow UP Participation Index..:       40       53       30       33       47
Dow DOWN Participation Index:        7        3        3       17       20


*****************************  INDEX ANALYSIS  ******************************

                                  SPX     OEX     NDX    DJIA    DJTA    DJUA

Price/Earnings Ratio........:      19      19      24      16      18      22
Dividend Yield..............:    1.9%    1.8%    0.7%    2.2%    1.2%    3.7%

Advancing Stocks............:     217      58      35      17      14      10
Declining Stocks............:     276      39      63      13       6       5
  Net Advances-Declines.....:     -59     +19     -28      +4      +8      +5

% of Stocks Above 200 DMA...:     86%     89%     73%     90%     90%     93%

% of PMO Rising Trends......:     70%     77%     63%     73%    100%      7%
% of PMO Above Zero.........:     68%     74%     73%     43%     85%    100%
% of PMO Xover BUY Signals..:     59%     59%     53%     60%     85%      7%

% Price Momentum BUY Signals:     80%     83%     68%     83%     N/A     N/A
% Price Momentum SELL Signal:     20%     17%     32%     17%     N/A     N/A


*************************** PRECIOUS METALS WATCH ***************************

                                 05/13    05/12    05/09    05/08    05/07
----------------------------- -------- -------- -------- -------- --------
XAU (Gold & Silver Mng Indx):    90.39    90.63    89.38    89.91    90.03
   Points Change............:    -0.24    +1.25    -0.53    -0.12    -1.98
   Percent Change...........:    -0.3%    +1.4%    -0.6%    -0.1%    -2.2%

NY GOLD.....................:  1294.80  1295.50  1289.40  1289.60  1289.70
   Points Change............:    -0.70    +6.10    -0.20    -0.10   -18.00
   Percent Change...........:    -0.1%    +0.5%     0.0%     0.0%    -1.4%

NY SILVER...................:    19.55    19.53    19.18    19.18    19.33
   Points Change............:    +0.02    +0.35     0.00    -0.15    -0.25
   Percent Change...........:    +0.1%    +1.8%     0.0%    -0.8%    -1.3%

CENTRAL FUND CANADA (CEF) is a closed-end mutual fund whose assets consist
of gold and silver at a ratio of 50 oz. of silver to 1 oz. of gold.

CENTRAL GOLD TRUST (GTU) is a closed-end fund whose assets are gold only.

Decision Point monitors the amount of premium or discount between the Net
Asset Value (NAV) and the share price of these two funds to estimate
bullish or bearish sentiment in precious metals stocks.

CEF Premium (Discount)......:    -4.9%
GTU Premium (Discount)......:    -3.1%


******************** DAILY MARKET SENTIMENT INDICATORS **********************

PUT/CALL RATIO: This is a 10 DMA of daily put volume divided by daily call
volume. High readings indicate excessive bearish sentiment (which is
bullish) and low readings indicate excessive bullish sentiment (which is
bearish.
                                 05/13    05/12    05/09    05/08    05/07
-----------------------------   ------   ------   ------   ------   ------
Put/Call Ratio 10DMA (Total):     0.86     0.86     0.88     0.90     0.89
Put/Call Ratio 10DMA(Equity):     0.63     0.63     0.64     0.64     0.64
Put/Call Ratio 10DMA (OEX)..:     1.35     1.39     1.51     1.61     1.67


BOLLINGER PUT VOLUME INDICATOR: To calculate, divide the day's put volume
by a 10 DMA of daily put volume. A BUY Signal is given when the index
exceeds 2.0.
                                 05/13    05/12    05/09    05/08    05/07
-----------------------------   ------   ------   ------   ------   ------
Bollinger PVI (CBOE)........:     1.04     1.10     1.12     1.12     1.06
  Buy Signal (2.0 or higher):
Bollinger PVI (Equity)......:     0.92     0.84     1.03     1.02     1.13
  Buy Signal (2.0 or higher):
Bollinger PVI (OEX).........:     0.71     1.06     0.96     1.04     0.95
  Buy Signal (2.0 or higher):


********************* OTHER MARKET SENTIMENT INDICATORS *********************

AMERICAN ASSOCIATION OF INDEPENDENT INVESTORS (AAII) INVESTOR SENTIMENT

Survey results courtesy of AAII (http://www.aaii.com).

                        05/07    04/30    04/23    04/16    04/09    04/02
--------------------   ------   ------   ------   ------   ------   ------
Percent BULLS......:      28%      30%      35%      27%      29%      35%
Percent BEARS......:      29%      30%      26%      34%      34%      27%


INVESTORS INTELLIGENCE ADVISOR SENTIMENT

Source: Investors Intelligence (http://www.investorsintelligence.com).

                        05/02    04/25    04/17    04/11    04/04    03/28
--------------------   ------   ------   ------   ------   ------   ------
Percent BULLS......:    55.8%    54.7%    51.6%    50.5%    54.6%    50.5%
Percent BEARS......:    19.7%    20.6%    21.7%    20.6%    18.6%    18.6%


WALL STREET SENTIMENT SURVEY

The Wall Street Sentiment Poll is a weekly survey of a group of technically
oriented market analysts with a diverse set of analytical disciplines. Data
Data are provided by Mark Young of Equity Guardian Group.

                        05/09    05/02    04/25    04/17    04/11    04/04
--------------------   ------   ------   ------   ------   ------   ------
Percent ST Bulls...:      20%      11%      40%      28%      31%      35%
Percent ST Bears...:      50%      56%      50%      39%      25%      55%


NYSE SHORT INTEREST RATIO: NYSE has become unreliable in reporting these data,
so we are discontinuing coverage.


************************** MUTUAL FUND CASH FLOWS ***************************

WEEKLY CASH FLOW INTO MONEY MARKET MUTUAL FUNDS (Est Dollars In Billions)

                        05/07    04/30    04/23    04/16    04/09    04/02
--------------------   ------   ------   ------   ------   ------   ------
Money Market Funds.:   +16.47   -10.20    +7.32   -35.02   -17.70   -13.12


******* MONTHLY MUTUAL FUND TRENDS (Estimated Dollars In Billions) **********

This information is reported by ICI (investment Company Institute) one month
after the month end.

                                03/14   02/14   01/14   12/13   11/13   10/13
-----------------------------  ------  ------  ------  ------  ------  ------
Total Assets Stock Funds....:  7945.2  7937.4  7543.0  7762.3  7601.4  7601.4
Net Cash Flow Stock Funds...:  +10.42  +19.19  +23.90   +0.17  +22.22  +20.68
Stock Funds Percent Cash....:    3.7%    3.7%    3.6%    3.5%    3.8%    3.8%
Stock Funds Dollars Cash....:   294.0   293.7   271.5   271.7   288.9   288.9
Total Money Market Funds....:  2631.4  2661.0  2708.4  2718.6  2673.2  2673.2
Net Cash Flow MM Funds......:  -29.16  -46.73   -9.40  +44.14   +5.08  -12.12
Mny Mkt as % of Stock Funds.:   33.1%   33.5%   35.9%   35.0%   35.2%   35.2%
Total Assets Bond Funds.....:  3348.0  3335.3  3296.2  3301.2  3335.4  3335.4
Net Cash Flow Bond Funds....:  +12.50   +7.80   +1.20  -25.10  -18.20  -15.60


*************************** S&P 500 FUNDAMENTALS ****************************

The following are the most recently reported and projected twelve-month
trailing (TMT) earnings, quarterly earnings, and price/earnings ratios (P/Es)
according to Standard and Poors.

                                             Est       Est       Est       Est
                               2013 Q4   2014 Q1   2014 Q2   2014 Q3   2014 Q4
TMT P/E Ratio (GAAP).......:     18.90     18.80     18.10     17.20     16.60
TMT P/E Ratio (Operating)..:     17.70     17.40     16.90     16.40     15.80

TMT Earnings (GAAP)........:    100.20    100.70    104.73    110.50    114.02
TMT Earnings (Operating)...:    107.30    108.94    112.08    115.80    119.81

QTRLY Earnings (GAAP)......:     26.48     24.72     28.90     30.40     30.00
QTRLY Earnings (Operating).:     28.25     27.41     29.50     30.64     32.26

For a more thorough discussion of earnings and other fundamentals
click here.


**************************** VALUE RANGE ANALYSIS ***************************

The yield for the DJIA, DJTA and the S&P 500 has historically moved
between a range of 3% (overvalued) and 6% (undervalued). The normal yield
range for the DJUA is between 3% and 12%. Decision Point expresses this
range as an RVR (Relative to Value Range) value of between 0 (undervalued)
and 100 (overvalued). Values can fall outside that range, and, when they
do, indicate even greater extremes of market valuation.

IMPORTANT!! Dividend changes can radically alter the RVR.

                                     S&P 500     DJIA     DJTA    *DJUA
-----------------------------------  -------    -----    -----    -----
Current Closing Price.............:     1897    16715     7904      536
Current Yield.....................:     1.9%     2.2%     1.2%     3.7%
Current P/E.......................:       19       16       18       22
Current Payout Ratio..............:      0.4      0.4      0.2      0.8
Current RVR.......................:      136      126      159       92

Price at  1.5% Yield..............:     2403    24515     6323     1322
Price at  3.0% Yield (RVR 100)....:     1201    12258     3162      661
Price at  4.0% Yield..............:      901     9193     2371      496
Price at  5.0% Yield..............:      721     7355     1897      397
Price at  6.0% Yield  (RVR 0).....:      601     6129     1581      331
Price at  8.0% Yield..............:      451     4597     1186      248
Price at 12.0% Yield  (RVR 0 - DJUA).........................:      165


*********************** MISCELLANEOUS MARKET MEASURES ***********************

DJIA Yield.............:    2.21%  Bearish  (Norm Rng: 3% - 6%)

DJIA P/E...............:    16.38  Neutral  (Norm Rng: 10 - 20)

T-Bill Yield/DJIA Yield:     0.73  Bullish  (Norm Rng: 1.6 - 2.0)

Price to Dividend Ratio:    45.25  Bearish  (Should be less than 30)


These reports contain a plethora of data and information that isn't necessarily meant for daily consumption, but they are set up for quick review and ease of use. You'll find these reports in the DP Reports blog in the paid area of StockCharts.com. Take a look and browse, you may find that one piece of information that might become critical to your daily analysis.

Happy Charting,
Erin

Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More
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