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

Percentage of S&P 500 Stocks Above 200-Day Moving Average The percentage of S&P 500 stocks above 200-day moving averages is at risk for a bearish divergence. Image: BofA Global Research

Copper to Gold Ratio and U.S. 10-Year Treasury Yield The copper to gold ratio is often considered as a leading indicator for the direction of the 10-year UST yield. Image: The Daily Shot

Time Series of S&P 500 Price, Forward EPS and Price to Forward EPS The S&P 500 has returned to its January 2022 level. Image: BofA US Equity & Quant Strategy

Recession – Percentage of U.S. Treasury Yield Curves Inverted The risk of a U.S. recession cannot be ruled out. Image: Charles Schwab