U.S. Stock Market Bull and Bear Indicator – S&P 500 Monday, our Stock Market Bull & Bear Indicator was bullish well before the opening bell and the S&P 500 followed through, closing up 0.26%. Using…
S&P 500 Index and Technical Score Bulls still have the upper hand. At 89.71, the S&P 500 is nearing stretched, overbought territory. Previous peaks have tended to form when readings move above 90. Image: Real…
S&P 500 Performance After >10% April/May Returns The S&P 500 surged 16.1% in April and May, the second-best performance on record. History suggests momentum tends to carry. In prior double-digit gains, June has always been…
Consolidated Equity Positioning At the 61st percentile, consolidated equity positioning is moderately overweight but far from crowded, leaving the door open for further upside. Image: Deutsche Bank Asset Allocation
Insider Transactions Ratio As buying and selling come into balance, the Insider Transactions Ratio has returned to neutral territory. Corporate insiders appear to be pausing, with no strong conviction either way. Image: Barron’s
Valuations – 12-Month Forward P/E Ranges (MSCI Regions) Valuations in U.S. and global equities remain stretched, with earnings momentum doing most of the work. As long as companies keep posting solid results, investors seem willing…
ISM Manufacturing Index vs. S&P 500 Index U.S. manufacturing continued to gain traction in May, with the ISM Manufacturing Index rising to 54, above expectations of 53.1, and marking a fifth straight month of expansion.…
Mega-Cap Growth & Tech Positioning Positioning in mega-cap growth and tech sits in the 95th percentile, a crowded, overweight trade that looks vulnerable if tailwinds fade. That leaves very little margin for disappointment. Image: Deutsche…
Median 2-Week S&P 500 Returns Since 1950, the S&P 500 has typically posted modest gains in the first half of June, positive more often than not, but rarely spectacular. Image: Goldman Sachs Global Investment Research
Risk Appetite Indicator Level and Momentum Factors Goldman Sachs’ Risk Appetite Indicator keeps pushing higher and is now flashing stretched levels, as investors crowd further into higher-risk trades. Chasing upside works until positioning itself becomes…
S&P 500 and Market Breadth Streaks The S&P 500 may be printing new highs, but the rally lacks broad participation. Weak breadth like this tends to point to underlying weakness and leaves the market more…