Markets at Record Highs

Stocks continue to press higher, and US small caps hit a new All-Time High. My Weinstein indicator score hit a multi-year high as well. Below you can see the current indicators and a chart of the indicator score over the last two years.

Weinstein's Indicators

Indicator	Status	Bias
Stage Analysis	S&P 500 above MA(30)	Bullish
Advance-Decline	NYAD above MA(30), new high recently	Bullish
Market Momentum	NYAD MA(200) consolidating and well above zero.	Neutral+
Highs vs Lows	NYHL positive for several consecutive weeks. Well above 100.	Bullish
World Markets	VEU is above MA(30) and making new highs.	Bullish
Market Leader	AAPL is once again above a rising MA(30)	Bullish
Price-to-Dividend	S&P500 dividend yield below 1930-2011 average, but higher than most data since 1995.	Somewhat Bearish
Contrary Opinion	AAII sentiment survey is mostly bullish and neutral. Bears at an extreme low.	Somewhat Bearish

Taking a wider look at international markets and other assets (bonds, gold), we see that stocks continue to be the place to be. Leading areas are US small caps (IWM), Japan (EWJ), Europe (IEV), and US large caps (SPY): 

Bonds, gold, and Latin American stocks are lagging:

Don't fight the tape

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