Performance – Global Equities Equal Weighted (MSCI ACWI Equal-Weighted Index) Since February 2020, the MSCI ACWI Equal-Weighted Index has done virtually nothing. Image: BofA Global Investment Strategy

Sentiment – Equity Put/Call Ratio The CBOE U.S. equity put/call ratio is often seen as a contrarian indicator. Image: BofA Global Investment Strategy

S&P 500 Fwd Earnings Yield – U.S. 10-Year Treasury Yield Can U.S. Treasury bonds be considered more attractive than U.S. stocks at present? Image: The Daily Shot

VIX Seasonality Will the VIX continue to follow its seasonal trend? Image: Topdown Charts

NFIB Confidence vs. U.S. Small-Cap Stocks There is a good correlation between the annual rate of change in the NFIB Small Business Survey and U.S. small-cap stocks. Image: Real Investment Advice

U.S. Stock Market Valuation – Cape Ratio The S&P 500’s CAPE ratio remains historically high, which could potentially lead to lower subsequent returns over the following 10 years. Image: Real Investment Advice

S&P 500 Performance After First Close Beneath 50-Day Moving Average in Four Months or More After closing below the 50-day moving average for the first time in four months or more, the S&P 500 has…

FMS Investors – Net % Expecting Higher Global CPI vs. Net % Expecting Higher Short-Term Rates There are still big expectations for inflation to fall. Image: BofA Global Fund Manager Survey

Valuation – S&P 500 Forward P/E and U.S. 10-Year U.S. TIPS Yield The S&P 500 forward P/E multiple tends to be negatively impacted by higher real interest rates. Image: The Daily Shot

S&P 500 Returns During Earnings Season The S&P 500 typically rallies during earnings season, with a median average return of 2.0%. But not this time. Image: Deutsche Bank Asset Allocation