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Bond mutual funds continue to capture net inflows while their ETF counterparts have seen net outflows for three straight weeks. Domestic equity mutual funds see more net outflows, but (barely) hang on to positive YTD flows.

The Momentum/Breadth/Divergence category lost -25 points on the week, triggered by a shift in a momentum sub-model that has been very volatile in the past several weeks.

Bond ETFs, Domestic Equity Mutual Funds and Money Market Funds see weekly net outflows, while all other broad categories experience net inflows.

The Major Trend Index fell 0.01 to 1.15 in the week ended June 6th, with sizable changes in three categories largely cancelling one another out.

Domestic equity mutual funds recorded estimated net inflows for the first time in eight weeks, and domestic ETF flows are now positive YTD.  Bond ETFs saw net outflows for the first time in nine weeks.

The 2013 flow comparator for bond mutual funds begins to decline as we reach the anniversary of a marked month.

After sinking to a four-month low of 1.10 mid-month, the MTI rallied in the final two weeks of May to close the month at 1.16—unchanged from the reading four weeks earlier.

Timing a dividend strategy based on interest rate trends is futile. Look for quality of dividend payers for long-term success.

A good rule of thumb for fundamental forecasters is that projected events almost invariably take much longer than anticipated to occur, but then—once underway—unfold with much greater speed and power than originally expected (think subprime).

The year’s second biggest surprise (next to the relentless drop in bond yields) might be the YTD bounce in the major commodity indexes.

Five springs ago, we couldn’t have imagined we’d still hold near-maximum equity exposure after a near-tripling in the stock market from its Great Recession low. Then again, we wouldn’t have guessed that Fed printing presses would still be whirring so many years after the crisis ended. Coincidence? Probably not.

Although the social media darlings haven’t recouped their losses, the Technology Index moved to new cycle highs in early June.

The notion of “overbought” and “oversold” markets might be the costliest concepts ever developed by stock market technicians. The very words imply some sort of excessive condition that’s prone to naturally self-correct.

Daily stock market volatility has levitated at levels a bit higher than the VIX—in a zone that has historically been “optimal” for short-term performance.

While stock market action YTD has not been quite as “uniform,” the hallmarks of an imminent bull market top are simply not present. The bullish portents apply to intermediate term results, however, they cannot rule out any short-term setbacks (which can appear with no tip-off from breadth or leadership measures).

Great bull markets begin with numbers but end with narratives. The current bull market began with terrific statistics, but the past two years has given way to story-telling that is unimaginative even by Wall Street standards.

The second month of Q1 earnings reports registered an Up/Down Ratio of 1.16. This is far below the long term “two-month” average of 1.52, and ties the lowest “two-month” result since 2009.

We identify the “Old Tech” players that will likely reap the benefits from the ever-growing volume of data being generated, stored, and transmitted on line.

Bull markets rarely come to an end prior to the Transports exhibiting weakness. Their outperformance continues this year, returning an impressive +9.9% through June 4th, almost doubling the S&P 500’s +5.2%. We examine the underlying Transport groups and assess which areas are providing the strength to help sustain the Transportation Index’s leadership.