S&P 500 3-Month Seasonality Returns and Percentage of Time Up – Presidential Cycle Year 1 S&P 500 seasonality is more bearish in Presidential cycle year 1, from late summer into the fall. Image: BofA Global Research
S&P 500 and the 14-Day RSI Lower highs signal a bearish divergence on the 14-day relative strength index. Is a trend change imminent for the S&P 500? Image: BofA Global Research
CTAs Aggregate Net Position in USD vs. the Dollar Index (DXY) CTAs remain bearish on the U.S. dollar. Image: Nomura
S&P 500 and Investment Grade Bonds The divergence between investment grade bonds and the S&P 500 tends to be a bearish signal for the S&P 500. Image: BofA Global Research
Inflation – S&P 500 and the CPI YoY Index The secular chart could suggest a late 1950s pattern. Rising inflation is not necessarily bearish for the S&P 500. Image: BofA Global Research Click the Image to Enlarge
Long-Term U.S. Government Bond Quarterly Total Returns With low interest rates and inflation on the horizon, is Warren Buffett right to be bearish on bonds? Image: Financial Times
Sentiment – 25-Day U.S. Put/Call Ratio Bearish seasonality risk is increasing, as the 25-day put/call ratio is trading at relatively low levels. Image: BofA
MSCI ACWI Ex. U.S. ETF and ACWI Ex. U.S. Relative to S&P 500 The 3-year bear market for global equities ex. U.S. is over. Image: Strategas Research Partners
10-Year U.S. Treasury Bond Yield – 50-Day and 200-Day Moving Averages Could bond markets take a bearish turn? Image: Morgan Stanley Wealth Management
AAII Bullish Sentiment Above 50 Historically, a reading above 50 for the AAII Bullish Sentiment is contrarian bearish. Image: BofA Global Research