Special Risk Capital Management LLC

Not So Much ! May 29, 2011

What’s happening in the stock market ?  “Not so much”.

For the (past) week, the S&P 500 was (down) -0.16% . . . . not much.

Since February 11, 2011, the S&P 500 is (up) +0.15% . . . . not much.

Accumulation / Distribution (an indication of money flowing into and out of stocks) is fairly neutral at 23% under Accumulation, 31% Unchanged and 46% in Distribution.  (OK, an edge to Distribution, but . . . )

The Direction of the A/D is 53% moving toward Accumulation, 3% Unchanged and 44% toward Distribution.  (Improving ?)

So I’m tempted to title this entry as “Double Ditto”, because not much is actually changing in the bigger picture.  Sector strength is still split between Defensive style stocks (risk off) and a few Small Cap. ones (risk on).  Specific top sectors are unchanged as well:  Healthcare, Consumer Services, Technology, Materials, Telecom are generally strongest, but this strength is usually driven by a few stocks within that sector.  Most stocks are just . . . . blah, not much.

No really new graphs to show this week, as they would be similar to the last 2-3 weeks.  So the big question is:  Are we building a base for the next move up, or forming a top for the next move down?  When enough people figure that out, it WILL move this market.  For now I will wait for signs.  Waiting can be the most difficult task of investing.  Wait for the need to act, then act.

Have a great Memorial Day weekend, and a good week next week.