Total Real Return of $1000 Investment with Dollar Cost Average vs. S&P 500 Valuations Diversification does not always work and valuations matter. The S&P 500 can take a very long time to recover from a bear market. Image: Real Investment Advice
S&P 500 Futures and 50-Day Moving Average Morgan Stanley remains bearish on the U.S. stock market for this fall. Image: Morgan Stanley Research
S&P 500 Index and U.S. Corporate High Yield Index Is high yield credit a bearish sign for the S&P 500? Image: Morgan Stanley Wealth Management
Real Earnings Yield – S&P 500 12-Month Forward Earnings Yield Minus 10-Year TIPS Breakevens Is the S&P 500 real earnings yield now bearish for the U.S. stock market? Image: Topdown Charts
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
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