1. Stocks and Bonds Power Thru Post Rate Hikes Capital Group 2. META Spending $40B on AI Capex Traded right to support …-21% from highs… 3. Private Equity Buying Corporate Pens… Read More

1. META was Trading $417 Last Night $530 was high so -20% correction from highs. 2. Rate Watch–20-Year Treasury Bond. A series of lower highs….50 day and 200 day sloping do… Read More

1. History of S&P 5%+ Pullbacks 2. 82% of S&P Reports by May 3rd 3. Mag 7 vs. The Rest Earnings 2024 Richard Bernstein Advisors 4. Same Story Fund Flows…Investors Buying Large… Read More

1. MSFT and AMZN Spend More on AI than All of Venture Combined ARS Technica Blog 2. Two-Year Treasury Back to 5% 3. Higher Yields and S&P Returns 4. MSTR -42% from Highs 5. China Propert… Read More

1. FAANG Revenue Growth Zerohedge Blog https://www.zerohedge.com/markets/gold-miners-will-trade-multiples-current-prices 2. Tesla -40% Year to Date…Second Worst Performing Stock in th… Read More

1.Not Many People Would Win This Trivia Question—Gold Outperformed S&P on 100-Year Basis. Jim Reid Deutsche Bank Gold has got a lot of attention in the last couple of months… Read More

1. Rates Back to Top of Mind….Some 10 Year Treasury Charts Remember we broke above red trendline on this 10 year rate chart going back to 1985…A rally above 5% takes us back of… Read More

1.U.S. Dollar Making New Highs. 2.Dollar and Rates in Lockstep Since Last Summer. From Dave Lutz Jones-The dollar and the 10-year yield have been moving in lockstep with each… Read More

1. QQQ Closes Below 50-Day First Time Since November 2023 Showed S&P Yesterday…QQQ and SPY below 50day. 2. FANG+ ETF Closes Below 50day Chartr Blog 4. Foxconn Funnels $690m into M… Read More

1. S&P Has Traded Above 50-Day Moving Average Since November 2023 2. Probability of Fed Rate Hike in June The United States: The probability of a Fed rate cut in June has collapsed… Read More

1. Four-Year Rate of Change Inflation Bespoke 2. Flows into Inflationary Sectors Have Been Negative Dave Lutz Jones Trading$600mn was pulled from technology, the first time since October the… Read More

1. Q1 Letter – R.O.C.K. in the USA Matt Topley 2. Office Property  Market 27-Year History 3. Residential Property as a Percentage of GDP is Still Low JP Morgan Asset Manageme… Read More

1.Sector Leadership Shifted for Last Month Ned Davis Research www.ndr.com 2.History of Extended Periods without a 2% Pullback Nasdaq Dorsey Wright 3.Current Valuations vs. Previous Bubbles… Read More

1. AI Stock SMCI -23% from Highs Still looks like small blip on longer-term chart. 2. Gold Rally….ETF Assets Still Well Below Highs 3. Gold New Highs but U.S. Dollar Not Weakening Thi… Read More

1.Equities Shine Over Bonds-Bespoke Helped mainly by the massive gain since late October, the S&P 500’s one-year trailing total return through the end of March clocked in at an eye… Read More

1.Disney Chart Action. DIS broke above red downtrend line going back to 2021 Disney running right up to 200-week moving average 2.This Chart Shows Toyota vs. Tesla Performance Toyota 11x Ear… Read More

1. Q1 Performance Grid Nasdaq Dorsey Wright 2. More Presidential Election Year Stats The Hartford 3. European Profits Seeing Upgrades Dave Lutz Jones Trading European stocks just marked thei… Read More

1. Mega-Cap vs. 490…2000-2024 2. History of S&P Returns After Back to Back 10% Quarters From Dave Lutz at Jones Trading Bespoke notes the S&P just had the second str… Read More

1. Labor Productivity Breaks Out to New Highs 2. Free Cash Flow Still Climbing Capital Group Capital Group At an aggregate level, companies in the S&P 500 Index excluding financials are… Read More

1. Market Returns Around End of Fed Rate Hiking Cycle JP Morgan Guide to Markets 2. Record High Liquidity Torsten Slok, Ph.D.Chief Economist, Partner  One way to measure liquidity is to… Read More

1. Annual IPO Activity 2000-2024 Dorsey Wright  Will IPO Market Launch with Reddit?   2. Days Since 2% Correction Michael Batnick Irrelevant Investor https://theirrelevantinvestor… Read More

1. Short-Term Overbought Bespoke Investment GroupHere in the US, it was a broad rally last week as Real Estate was the only sector ETF to finish in the red, and seven of eleven sectors ralli… Read More

1. Small Speculators in Stock Futures Most Bullish Ever From Callum Thomas Chart Storm @Callum Thomas (Weekly S&P500 #ChartStorm) I am not familiar with this indicator but interesti… Read More

1. Apple News. Axios-Ashley Gold and Ryan Heath https://www.axios.com/2024/03/21/apple-lawsuit-doj-antitrust-iphone-monopoly Chart Held November Lows on First Test 2. 52-Week Highs Best in 3… Read More

1. Tech vs. the Rest Forward P/E Ratio …28.9x vs. 18.3x Jeremy Schwartz Wisdom Tree Tweets by JeremyDSchwartz 2. Office Market 90 Day Delinquency Rate 4. The Biggest Alternative Alloc… Read More

1. SMCI -30% Correction 2. AI ETFs Trailing S&P 2024 WSJ Among 17 ETFs specializing in AI and related disruptive technology, only three have outperformed the S&P 500 over the past ye… Read More

1. Follow Up to Copper Charts from Yesterday 2. Indian Options Frenzy Dwarfs America 3. 2023 The U.S. Added Record Solar Energy Capacity It’s Official: America Is Experiencing a Solar… Read More

1.Record Inflow to U.S. Equity Funds…$56B One Week….Sounds Big But $6 Trillion in Money Markets. Flows Show:  Similarly, US equity fund flows show clear FOMO. Source:… Read More

1.Semiconductor ETF SMH -7% From Highs. 2.NVDA -10% Correction …52-Week High $974…Hit $870 3.S&P Keeps Moving Higher vs. Low Chance of 2024 Rate Cuts Zerohedge Stocks vs. R… Read More

1. First Profit Taking in Technology Stocks From Irrelevant Investor Blog https://theirrelevantinvestor.com/2024/03/13/animal-spirits-the-richest-country-in-the-world/ 2. Last Week We Pointe… Read More

1. Comparison Mag 7 to Previous Concentrated Markets Morningstar John Rekenthaler 2. Post 1999 Bubble Returns of Leadership Names https://www.morningstar.com/stocks/magnificent-seven-fo… Read More

1. S&P Ex-Top 10 Largest Stocks Trades at 19x P/E Marketwatch https://www.marketwatch.com/story/heres-what-100-years-of-history-shows-about-periods-of-extreme-market-concentration-a… Read More

1. NVDA 2024 vs. CSCO 1999 Barrons Burton G. Malkiel is the author of A Random Walk Down Wall Street, now in its 50th-anniversary edition.Nvidia makes chips that are… Read More

1. Mag 7 Dispersion 2024 Jim Reid Deutsche Bank 2. FANG+ Short-Term Overbought/Oversold Dave Lutz at Jones Trading Bespoke notes that Mega-cap divergence is real – AAPL is no… Read More

1. EU Apple Fine Followed by China IPhone Sales -24% Apple’s iPhone Woes in China Deepen With a 24% Sales Plunge-Bloomberg By Vlad Savov Apple Inc.’s iPhone sales in Ch… Read More

1. Tech vs. Rest…S&P Ex-Tech +11% in 12 Months https://www.bloomberg.com/news/articles/2024-03-04/jpmorgan-sees-froth-in-us-stocks-goldman-says-rally-justified?srnd=homepage-ameri… Read More

1. U.S. Stock Market Less Concentrated than Every Market Ex-Japan 2. Worst Performing Stocks February-Bespoke Bespoke Investment Group 3. Crypto Estimated Annualized Fund Flows The Daily Sho… Read More

1. A 5% February: What Worked and What Didn’t-Bespoke The S&P 500 finished February with a gain of more than 5% for just the 11th time in the index’s history since 1928. Belo… Read More

1. History of Median P/E Ratios From Irrelevant Investor Blog Animal Spirits: Now Show Japan 2. 2-Year Treasury …4 to 4.70 in 2024 Not sure how much moving averages matter in bonds&he&hell…Read More

1. Equal Weight Nasdaq 100 Record Low vs. Cap Weight (Mag 7) 2. MTUM Momentum ETF +17.5% YTD After Multiple Underperforming Years 3. Seasonality Bullish Jefferies Zach Goldberg Seasonality&h&hell…Read More

1. Follow-Up to Yesterday’s #1-Looks Like Hedge Funds Pulling Back on Tech Dave Lutz Jones Trading  Figures showed that after piling into tech stocks in the weeks before Nvid… Read More

1. Earnings Summary …S&P Earnings 80% Beat 2. Japan and U.S. Higher Than Average Earnings  vs. Emerging Global Developments: Japan and the US experienced significantly h… Read More

1. The Death of Stock Splits  Barrons  Adjusted for inflation, that average 1983 price of $39.06 is worth $120.30 in today’s dollars. That doesn’t fully explain the inc… Read More

1. Corporate Cash at All-Time Highs 2. MAG-7 64X Larger than Bank Index Jim Reid Deutsche Bank To illustrate, today’s CoTD looks at the market cap of the Mag-7 versus that of… Read More

1. Earnings Week…22% of Russell Reporting Dave Lutz Jones Trading Cam notes As we await NVDA’s earnings report keep this in mind: BoA Global Fund Manager Survey shows… Read More

1. Earnings Growth 493 vs. Mag 7 Found at Irrelevant Investor https://theirrelevantinvestor.com/2024/02/16/the-compound-and-friends-45/ 2. Micro-Cap Stocks Still 30% Off Highs ©1999-202… Read More

1. NVDA Worth More Than Entire Chinese Stock Exchange This chart shows NVDA vs. Chinese Large Cap Stocks (FXI) 2. Momentum ETF +13.7% YTD vs. S&P +4.8% 3. Mutual Fund and ETF Flows Show… Read More

1. Big Level to Hold for BYD TSLA international competitor and Warren Buffett Holding BYD…about to break 2022 and 2023 lows. 2. Tesla -24% YTD…TSLA Vs. S&P Chart. This char… Read More

1. History of a Positive January 2. Big 7 Reporting this Week …Big Growth Premium By Rita Nazareth 3. Tesla 30x Sales to 6.6x Sales @charliebilello   4. GM vs. Tesla GM earn… Read More

1. Buying at All-Time Highs @Callum Thomas (Weekly S&P500 #ChartStorm) Buy the All-Time High:  Or BTFATH as some call it — historically, there is a slight performanc… Read More

1. Election Year Average 7.2% Returns with Higher Volatility 2. Energy vs. QQQ Chart Closes Below 200-Week Moving Average On a 2-year basis energy still beating tech….but chart breaki… Read More

1. Defensive Stock Sectors Continue to Make New Lows. 2. 30-Year Treasury Yield Update. www.stockcharts.com The post Top 10 Friday – January 26, 2024 appeared first on View From The To… Read More

1. 52-Week Highs During Yield Curve Inversion. Nasdaq Dorsey Wright 2. Sector Performance Large Cap vs. Small Cap 2024 Large Tech vs. Small Tech Spread Marketwatch ByChristine Idzelis h… Read More

1. Tesla -15% Year to Date 2. 2023 Extreme Daily S&P Moves Fall in Normal Range VIX at $12 but 2023 normal range -Nasdaq Dorsey Wright https://www.nasdaq.com/solutions/nasdaq-dorsey-wrig… Read More

1. Not Mag 7…Its Súper Dos 2. Profit Margins Projected to Exceed 2021 Highs. Marketwatch By Jeremy C. Owens https://www.marketwatch.com/story/its-the-trillionaires-st… Read More

1. S&P New Highs….7th Longest Run Ever Between New Highs. 2. Earnings Recessions Set to End. Nasdaq Dorsey Wright Earnings estimates see dip in Q4 2023 before positive growth… Read More

1. A Record 91% of Fund Managers Expect Interest Rates to Go Lower Marketwatch-As of this month, a record 91% of fund managers surveyed expect short-term interest rates will drop over the ne… Read More

1. Japan Stocks Beating China Stocks Since 2004 on Annualized Basis 2. Nvidia Forward P/E Lower than Semiconductor Index? WSJ  Nvidia currently trades about 26 times projected per-share… Read More

1. Healthcare and Utilities Outperform Week 1 2. Leadership 2022 vs. 2023 @Charlie Bilello The top three sectors in 2022 (Energy, Utilities, and Consumer Staples) were the bottom three in 20… Read More

1. Underperformers for 2023 Have Big Run From November to Close Out Year IJS Small Cap +24% and RSP Equal Weight +16% vs. S&P +12% 2. VXUS Vanguard International ETF 50day thru 200day to… Read More

1. S&P Percentage of Stocks that Outperformed Index Lowest Since Tech Bubble RBA Advisors-Despite the economy’s unexpected health, Chart 4 shows the proportion of stocks within the… Read More

1. S&P Performance After 7 Week Win Streak. Nasdaq Dorsey Wright https://www.nasdaq.com/solutions/nasdaq-dorsey-wright 2. AAPL to Halt Watch Sales Due to Import Ban….And the Stock… Read More

1. QQQ New Highs. 2. Net Speculative Positions in QQQ @Callum Thomas (Weekly S&P500 #ChartStorm)All-in on AI:  Speculators have been stampeding into tech stocks. The combinatio… Read More

1. 10-Year Treasury Yield Hard Close Below 200-Day 2. Homebuilders +35% in 6 Weeks. 3.  Dow Industrials New Highs 4. Dow Transports and Utilities Still Below Highs. Keep an eye on trans… Read More

1. Hedge Fund VIP Most Shorted Basket …Shorts Run Over. Zerohedge https://www.zerohedge.com/markets/powell-unleashes-historic-hedge-fund-devastation-margin-calls-galore-close 2. 60/40… Read More

1. Small Cap Value Stocks Cheaper than Internet Bubble Marketwatch BY Mark Hulbert The accompanying chart plots this ratio, courtesy of data provided by Rob Arnott, founder of Research Affil… Read More

1. Presidential Election S&P Cycle Chart Bespoke Investments Blog https://www.bespokepremium.com/interactive/research/think-big-blog/ 2. What Happens After S&P 20% Up Year. Ben Carls… Read More

1. November-5th Best 30 Day Performance Ever for AGG Bond Index Nasdaq Dorsey Wright As we touched on in yesterday’s featured piece, the bond market has been on a tear since the end of… Read More

1. December and January of Election Year. @ryandetrick https://twitter.com/RyanDetrick 2. November was Biggest Corporate Buybacks on Record. 3. Not Sure About Risk Part…But Great Char… Read More

1. NVIDIA Fast -10% Correction….All Gains in First Half of Year…..Last 6 Months Only +16% 2. NVDA vs. INTC/AMD WSJ Dan Gallagher The past year has certainly made it seem t… Read More

1. QQQ Right to 2021 Resistance. QQQ’s tried to break thru in June and July before sell-off. 2. Small Cap +15% Off Lows….Close to resistance at August Levels. IWM Russell 2000 $… Read More

1. History of S&P in Election Year. @callumthomas Next Year:  As we’re soon headed into election year it’s worth highlighting an interesting stat — returns hi… Read More

1. S&P Record November. 2. Cybersecurity ETF Hits 52-Week Highs. https://www.marketwatch.com/ 3. AGG Bond Index on Track for Best Month Since 1980s Dave Lutz Jones Trading The Bloom… Read More

1. December S&P Returns After Big November. Nasdaq Dorsey Wright https://www.nasdaq.com/solutions/nasdaq-dorsey-wright 2. NVDA Made the New Highs Pre-Earnings www.stockcharts.com 3… Read More

1. Goldman Sachs Financial Conditions Index Loosening. The Goldman Sachs Financial Conditions Index is a weighted average of short-term interest rates, long-term interest rates, the trade-we… Read More

1. What Happens After 20% Rallies Off S&P Lows JP Morgan Wealth Management Is the coast clear? Investing amid the rally | J.P. Morgan Private Bank (jpmorgan.com) 2. 308 of 503 S&P Co… Read More

1. Forward P/E of Magnificent 7 2. Another History of Concentrated Stock Rallies Alpha Architect Blog Larry Swedroe on Stock Market Concentration Consider that as of October 6, 2023, wh… Read More

1. Put Quarterly Letter #1 2. The Nasdaq Averages a -10% Correction Every 175 Days. Nasdaq Dorsey Wright The Nasdaq 100 Index NDX fell into correction territory on Thursday as… Read More

1. Where to Get Stock Market Returns if Interest Rates Peaked? WSJ-By Derek Horstmeyer https://www.wsj.com/finance/investing/investing-peak-interest-rates-89b9c8d5 2. Another New Record… Read More

1. Inflation Data Nasdaq Dorsey Wright Headline and Core CPI inflation lower than expected  Today’s inflation data was exactly what the Fed and markets were looking for. Both… Read More

1. History of Nasdaq After 9 Day Rallies. Nasdaq Dorsey Wright -The Nasdaq 100 Index NDX has shown sharp improvement over the past couple of weeks, rising by almost 10% from i… Read More

1. Retail Investors Not Chasing Rally Equities: Retail investors don’t seem to be chasing the current rally. Source: Vanda Research 2. Clean-Energy Sub-Sector Trailing S&P by -45%… Read More

1. Stocks Vs. Treasuries Full disclosure …I am not familiar with this chart. 2. AAA Corporate Bond Yield Back to Average Trend Line 3. Follow-up on XLE Energy ETF….Close Below… Read More

1. NVDA vs. AAPL At 27 times projected earnings, Apple trades roughly in line with Nvidia. One company isn’t growing. One company is on fire. Investors can do the math. Barrons&nb&hell…Read More

1. Magnificent 7 Comparable Valuations. KEY TAKEAWAYS The PEG ratio enhances the P/E ratio by adding expected earnings growth into the calculation. The PEG ratio is considered to be an indic… Read More

1. P/E Rations Magnificent 7 Vs. The World. A once-in-a-generation opportunity (rbadvisors.com) 2. Three Consecutive Down Months for S&P 3. Another Consumer Stock Gaps Down….EL&he&hell…Read More

1. Residential Real Estate 4x Larger than Commercial Real Estate…The American Dream has a Massive $44.5 Trillion Dollar Value. From Bramshill InvestmentsInsights | Bramshill Investmen… Read More

1. S&P Official Close Below 200-Day Moving Average. 2. FAAANG+ Above 200 Day But Blue Trendline Broke 3. QQQ-4 Lower Lows and 200-Day in Play 4. Majority of Sector Names in -10% Correcti… Read More

1. US Stock Repurchases are Tracking a 3% Decline in the Third Quarter after Falling 26% in the Previous Three Months, According to Bank of America Corp. Strategists Dave Lutz Jones Trading… Read More

1. S&P 200 Day in Play…Chart to Watch. 2. Vanguard Growth Index…4 Lower Highs. VUG-up big for the year but chart needs reversal. 3. Blackrock 60/40 Update. BIGPX chart belo… Read More

1. Dow Industrials and Dow Transports Trading Below 200-Day Moving Average. 2. Solar Earnings Misses Push Sector to New Lows. SolarEdge Technologies SEDG, -5.63% warned on profits due to a s… Read More

1. Stock vs. Bond Ratio Callum Thomas Stocks vs Bonds: Stocks have had an amazing run vs corporate bonds since the 2009 market bottom. You might say though that they only just got back to th… Read More

1. U.S. Treasurys are seeing longer bear market than stocks did in the 2008 financial crisis or the 2000 dot-com crash Marketwatch Frances Yue Longer-term U.S. Treasurys are experiencin… Read More

1. U.S. Venture Capital Valuations are Down 50% Torston Slok Apollo As the costs of capital have normalized, venture capital valuations have declined by 50%, see chart below. 2. The Lon… Read More

1. Found this Chart in an 2020 Slide Deck…We Hit 140-Year Low in Yield on 60/40 Portfolio Before Fed Started Raising Rates. 2. U.S. Dollar About to Break-Out to New Highs. 3. U.S. Tec… Read More

1. Inflation Rates and Interest Rates vs. S&P Returns. From Irrelevant Investor Blog https://theirrelevantinvestor.com 2. SPY Sets Record on Lower Lows 3. Senior Loan SRLN +8% YTD vs. AG… Read More

1. Can AI Funds Beat the Market? By Justina Lee-Bloomberg https://www.bloomberg.com/news/articles/2023-10-03/can-ai-pick-stocks-better-than-wall-street-firms-are-trying?srnd=premium&amp&hell…Read More

1. Q3 Quarterly Sector Returns. From Nasdaq Dorsey Wright 2. See Above Value Underperforming on Q3 Pullback S&P Pure Value Back to June Lows…50day thru 200day to downside 3. Value… Read More

1. 60/40 Portfolio -5% in Two Months. 2. U.S. 30yr Treasury Yield saw their Biggest Quarterly Climb Since Q1 2009 3. Financial Conditions (lending) Significantly Tighter From Callum Thomas c… Read More

1. Energy XLE Making Run at 2014 Levels 2. Semiconductors Did Break the One-Year Line I Sent Earlier in the Week 3. Last 3 Months Energy XLE +16.9% vs. Semiconductors SMH -6.3% 4. Monster Be… Read More