Net Long S&P 500 E-Mini Futures Position for Asset Managers Has the U.S. stock market more room to run? The net long S&P 500 E-mini futures position for asset managers is well below S&P 500 peak levels. Image: BofA Global Research Click the Image to Enlarge
U.S. vs. World ex-U.S. Equities Is it a major turning point for the U.S. stock market? Image: BofA Global Investment Strategy
S&P 500 – U.S. Year-to-Date Performance Chart suggesting that there is space for a rotation in the U.S. stock market. Image: Goldman Sachs Global Investment Research
S&P 500 Excluding Five Highest and Lowest Return Days As the chart suggests, mistiming the U.S. stock market can be disastrous. Image: Goldman Sachs Global Investment Research
S&P 500 Volatility History The stock market crash of 1929, the Black Monday of 1987, the global financial crisis in 2008, and the COVID-19 crisis were the most extreme events. Image: Goldman Sachs Global Investment Research
Equity Over-Valuation Composite Indicator Is the current stock market the most overvalued since 1998? 78% of FMS investors think so. Image: BofA Global Fund Manager Survey
Performance – Retail Trading Favorites vs. S&P 500 The most popular retail trading stocks have outperformed sharply the broader market. Image: Goldman Sachs Global Investment Research
Volatility – VIX over a Century The stock market crash of 1929, the Black Monday of 1987, the global financial crisis in 2008, and the coronavirus crash were the most extreme events. Image: BNP Paribas
S&P 500 Forward 2-Year P/E Ratio The U.S. stock market is pricing in a V-shaped economic recovery. Image: Goldman Sachs Global Investment Research
Valuation – GS Top-Down vs. Consensus Bottom-Up Estimates of 2020 EPS Growth This chart suggests that equity market valuations are too high, as current stock prices do not reflect the scale of earnings declines in a recession. Image: Goldman Sachs Global Investment Research