Replies to post #89586 on SPDR S&P 500 (SPY)

[omandan]

Gleno
Look at a 5 min. chart of today. SPY, DIA, MDY. See that long down tail out of the real body. The bears couldn't hold it down there, what does that tell you ???
Dan

[rimshot]

nice chart, Glen

[Two-timer]

Hey, Gleno, without the funds participating, this low-vol rally won't go on much longer. Two

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Equity Mutual Fund Outflows Accelerate As Market Ramps Higher On Low Volume, Computerized Churning
Submitted by Tyler Durden on 10/22/2009 10:22 -0500

The most recent data from ICI demonstrate that even as the market continues melting-up on low volume HFT churning, domestic equity mutual fund outflow have accelerated: the week of October 14 saw a quarter high ($5.3) billion withdrawn, and the cumulative ouflows since August have hit ($25) billion: a number that makes no logical sense when juxtaposed with the overall 7% market move higher during the period. What does explain it is the roughly $200 billion in USTs and MBS purchased by the Fed during the period. Yet, the take home message is that the money on the sidelines is not only not entering the market, it is getting bigger, despite endless attempts by CNBC to get everyone and the kitchen sink to open an E-trade account and fund their margin calls with Capital One 19.95% APR credit cards.