Valuation – Real S&P 500 % Deviation from Exponential Growth Trend Considering the significant deviation of the S&P 500 from its long-term exponential trend, it is still reasonable to expect a reversion to the mean…
Secular Bull Market – S&P 500 Weekly Chart with the 40-Week MA and 200-Week MA The S&P 500 index may potentially reach 5600 during a summer rally, as part of a catch-up trade within a…
FMS Investors – Average Percentile Rank of Growth Expectations, Cash Allocation, Equity Allocation The pessimism among FMS investors continues to decrease, which is highly encouraging as it indicates an increased appetite for risk-taking among FMS…
FMS Investors – Net % Saying Gold Overvalued According to FMS investors, gold is currently considered the most overvalued since August 2020, raising concerns about a potential market bubble. Image: BofA Global Fund Manager Survey
FMS Investors – Net % Say They Are Overweight U.S. Equities FMS investors still have a strong tendency to invest in equities. Image: BofA Global Fund Manager Survey
S&P 500 Historical FY2 EPS Revisions vs. Consensus EPS Consensus EPS estimates for 2024 continue to track a typical non-recessionary year revision trend, suggesting a positive outlook for the market and the potential for strong…
Different Market Sentiment Indicators Many market sentiment indicators highlight a trend towards risk-taking, which mirrors an optimistic outlook. Image: Goldman Sachs Global Investment Research
Utilities Flows Outflows from utilities persist, suggesting a sustained shift away from this financial asset. Image: BofA Global Investment Strategy
U.S. New Private Housing Units Authorized by Building Permits and Recessions In March, U.S. building permits declined to 1,458 million below expectations. Before recessions, building permits tend to peak and then decline Image: Federal Reserve…
Sentiment – NFIB Small Business Optimism Index High interest rates and inflation have dampened small businesses’ optimism. However, the anticipation of rate cuts and economic improvements may boost sentiment going forward. Image: BofA Global Research