Investor Sentiment – U.S. Market Greed/Fear Index At 54.05, the Greed and Fear Index remains firmly in neutral territory, far from both panic and euphoria. If prices hold as investors turn more defensive, that rising…
S&P 500 Performance After A >10% Q2 Quarter History is on the bulls’ side. Since 1950, when the S&P 500 rose more than 10% in Q2, Q4 ended in the green, with an average return…
GS Financial Conditions Index U.S. financial conditions excluding equities have tightened meaningfully, but the broader backdrop remains accommodative and is still supporting growth rather than restraining activity. Image: Goldman Sachs Global Investment Research
Consolidated Equity Positioning Consolidated equity positioning rose to the 60th percentile, a modest overweight. The trade is far from crowded, leaving room for investors to take on more risk. Image: Deutsche Bank Asset Allocation
U.S. Equity Index P/E Valuations vs. History Risk appetite remains strong. The Nasdaq 100 and Russell 2000 trade at 23 times forward earnings, while the S&P 500 trades at 19 times. The market is not…
Performance – S&P 500 MCG & Tech Ratio to the Rest of the S&P 500 After rebounding from the bottom of its long-term trend channel, the MCG and Tech relative performance ratio is now approaching…
AAII Sentiment Survey The S&P 500 may be near a record high, but U.S. retail investors aren’t exactly celebrating, with the AAII bull-bear spread still negative. Contrarian investors couldn’t ask for a more favorable situation.…
S&P 500 Quarterly YoY EPS Growth Relative to Consensus Expectations Analysts expect S&P 500 earnings to jump 27% year on year in 3Q 2026, powered largely by strong tech profits. Once again, tech is carrying…
Net Speculative Position in EUR/USD With speculators already net short, the euro could face renewed selling if bearish bets increase or economic data deteriorate. Image: J.P. Morgan Flows and Liquidity
S&P 500 Price Target for 2026 and 2027 Goldman Sachs still expects the S&P 500 climbing to 8,000 in three months, 8,300 in six and 8,700 within a year, with earnings growth, rather than valuations,…
S&P 500 CAPE Ratio vs. Subsequent 10 Year Annualized Real Return The S&P 500 is trading at a Shiller CAPE level seen only during the market’s most expensive episodes. History points to real annualized returns…