U.S. Stock Market Bull and Bear Indicator – S&P 500 Three Mondays ago, our Stock Market Bull & Bear Indicator was bullish well before the opening bell and the S&P 500 didn’t disappoint, ending the…

S&P 500 Index and Technical Score Despite semiconductors taking a hit last week, the S&P 500 remains overbought at 85.22, which leaves little room for disappointment. Image: Real Investment Advice

S&P 500 Performance After A >10% Q2 Quarter History leans very bullish. Since 1950, when the S&P 500 has risen more than 10% in Q2, the rest of the year has finished in the red…

Valuation – S&P 500 CAPE Ratio Valuations don’t matter until they do. Across 150 years of market history, stretched valuations have been a reliable warning sign, with each of the past three peaks followed by…

Consolidated Equity Positioning Consolidated equity positioning stands at the 41st percentile, still well below crowded territory and with plenty of upside left. Image: Deutsche Bank Asset Allocation

S&P 500 Trailing 4-Quarter Net Profit Margin (Ex. Financials) With S&P 500 profit margins holding near 13% and rates still low, equity valuations have more room to breathe. Goldman Sachs now expects 7% annual returns…

Discretionary vs. Systematic Equity Positioning Systematic strategies sit in the 60th percentile, while discretionary investors remain stuck at the 29th percentile, leaving room to add exposure. Image: Deutsche Bank Asset Allocation

Hyperscaler Capex, Operating Cash Flow and Free Cash Flow Big Tech’s five hyperscalers are now investing beyond their operating cash flow. The narrative has flipped from “can they afford it?” to whether the AI buildout…

EPS Revisions Since the start of the year, EPS revisions have trended higher across the S&P 500, STOXX 600, Topix and especially MSCI EM, as confidence in 2026 earnings builds. Image: Goldman Sachs Global Investment…

Valuation – Russell 2000 Forward 12-Month P/E The Russell 2000 is full of unprofitable companies, which makes its forward 12-month P/E look pricey at 33x. Strip out the loss-makers, and it falls to 16x. Image:…

Hyperscaler Quarterly Capex Growth Goldman Sachs thinks Wall Street is too conservative on 2027 hyperscaler capex, with the AI spending boom likely to run hotter for longer. Image: Goldman Sachs Global Investment Research