U.S. Stock Market Bull and Bear Indicator – S&P 500 Last Friday was another good day. At Thursday’s close, our Stock Market Bull & Bear Indicator was bullish, and the S&P 500 confirmed it Friday,…

S&P 500 Index and Technical Score The S&P 500 is still overbought at 88.65, as investors pile into more equity risk. While not at the most extreme levels seen in recent history, the stretch is…

Seasonality – S&P 500 Cycle Composite for 2026 The S&P 500 Cycle Composite calls for a bullish but choppy 2026, and the market is still following that seasonal playbook after a rough first quarter. Image:…

GS Financial Conditions Index U.S. financial conditions have tightened slightly but remain broadly supportive, continuing to feed through to stronger consumer spending and business investment. Image: Goldman Sachs Global Investment Research

Discretionary vs. Systematic Equity Positioning Systematic strategies are back at the 71st percentile, firmly overweight, while discretionary investors are at the 42nd percentile, close to neutral. Image: Deutsche Bank Asset Allocation

Valuation – S&P 500 NTM P/E At 16 times forward earnings, versus 20 for the benchmark, the equal-weight index is not cheap, but it looks more attractive on a relative basis. Image: Goldman Sachs Global…

Crypto Fund Flows Crypto funds have endured persistent outflows over the past two months, with Bitcoin vehicles taking most of the selling pressure. Last week, however, inflows ticked higher, offering a small boost of optimism.…

S&P 500 and Trend Strength by Market Cap US small caps are leading the breadth picture, with 67% now trading above the 200-day moving average, the highest reading since 2021. That’s a healthy signal, but…

S&P 500 Return Around Start of Fed Hiking Cycles When the Fed turns to hiking, the S&P 500 often takes a breather, slipping modestly over the next few weeks and months before the broader trend…

Median 2-Week S&P 500 Returns While the S&P 500 has usually opened July on a strong note since 1950, the back half of the month tends to be quieter. Image: Goldman Sachs Global Investment Research

Implied Vol for Individual Stocks in the S&P 500 vs. the Index There’s a wide gap between single-stock implied volatility, which remains elevated, and index volatility, which is more moderate. Image: Deutsche Bank Asset Allocation