gold, page-31361

Interesting, very interesting....

https://www.bloomberg.com/news/arti...-p-500-manages-weekly-gain-for-restless-bulls

Stuck for Months, S&P 500 Manages Weekly Gain for Restless Bulls

• Money flowing out of stocks amid signs of weakening growth
• Investors favoring international over domestic companies

The bulls are back in charge after a second weekly advance pushed the S&P 500 Index to a fresh record. But look a little more closely and the signs of unease in the stock market are hard to ignore.
It’s visible in fund flows, where investors are rotating from U.S. stocks to the rest of the world at the fastest pace in two years. And short sellers are getting aggressive, raising bearish bets in three of the past four months.
Meanwhile, investors in exchange-traded funds turned net sellers of U.S. stocks in May for the first time in a year, with withdrawals approaching $2 billion, data compiled by Bloomberg show. They added $22 billion to equity funds that invest in markets from Europe to Asia.
The divergence in flows, the widest since April 2015, marked a turnaround from last year, when almost $10 went for American equities for every one that went elsewhere.
Even as stocks vaulted to new highs, bears aren’t deterred. Short interest as a proportion of total shares outstanding has expanded since January, rising by 0.3 percentage point to 3.9 percent. Never before has an equity advance as big as this year’s occurred simultaneously with more short sales, according to exchange data compiled by Bloomberg that goes back to 2008.