Investor Sentiment – S&P 500 and NAAIM Index Below 40 The NAAIM index dropping below 40 is often interpreted as active investment managers selling equities at market bottoms, signaling a potential short-term market bottom. Image: Real Investment Advice
Valuation – S&P 500 Forward P/E and 10-Year U.S. Real Yield Is the current disconnect between the valuation of U.S. stocks and the impact of real interest rates on the economy expected to be temporary? Image: Goldman Sachs Global Investment Research
U.S. Initial Unemployment Claims After Yield Curve Inversion Is there a difference this time in the association between an inverted yield curve, usually indicating economic decline, and the potential for job losses? Image: Morgan Stanley Wealth Management
S&P 500 TTM EPS Before/After Earnings Troughs After a period of decline, S&P 500 earnings tend to rebound and grow at a faster rate than the decline they experienced. This pattern may not apply to every individual company in the index. Image: BofA US Equity & Quant Strategy
Valuation – Mega-Cap Tech vs. Rest of S&P 500 P/E Compared to the mega-cap tech stocks, the remaining stocks in the S&P 500 appear to be priced at a more reasonable level. Image: Goldman Sachs Global Investment Research
Conference Board Consumer Confidence and U.S. Treasury Yield Curve Historically, the U.S. Treasury yield curve has tended to follow consumer confidence, underscoring the importance of monitoring consumer confidence as a potential indicator of future yield curve movements. Image: Morgan Stanley Wealth Management
Gold-to-Copper Price Ratio The gold-to-copper price ratio is currently far from a level of complacency. Image: J.P. Morgan
Weighted Average Price Target for S&P 500 Companies Goldman Sachs price targets imply a +19.3% return over the next 12 months, which suggests a bullish sentiment and very optimistic outlook. Image: Goldman Sachs Global Investment Research
S&P 500 McClellan Oscillator The bullish divergence in the S&P 500 McClellan oscillator implies underlying buying pressure, signaling positivity for U.S. stocks and increasing the likelihood of a market reversal or bounce back. Image: BofA Global Research
S&P 500 Index Valuation vs. Interest Rates The S&P 500 trading at relatively high valuations, should investors consider overweighting U.S. Treasury bonds while simultaneously underweighting U.S. equities in their investment portfolios? Image: Real Investment Advice
G10 Central Bank Balance Sheets The shrinking of G10 central bank balance sheets is a significant factor that can impact liquidity and potentially act as a headwind for equities. Image: Deutsche Bank