Stocks Higher into Final Hour on Central Bank Hopes, Short-Covering, Performance Angst, Tech/Financial Sector Strength

Click Here for Today's Market Take:

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Light

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 13.90 -.79%
• Euro/Yen Carry Return Index 135.36 +.15%
• Emerging Markets Currency Volatility(VXY) 10.26 -1.25%
• S&P 500 Implied Correlation 53.25 +1.45%

• ISE Sentiment Index 67.0 +13.56%

• Total Put/Call .88 -12.0%

• NYSE Arms .96 +16.12% 

Credit Investor Angst:

• North American Investment Grade CDS Index 78.19 +1.47%

• European Financial Sector CDS Index 158.64 +2.57%

• Western Europe Sovereign Debt CDS Index 96.0 -.10%

• Emerging Market CDS Index 319.64 -.87%

• 2-Year Swap Spread 17.25 +.25 bp

• TED Spread 23.25 -.25 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -11.0 -1.25 bps

Economic Gauges:

• 3-Month T-Bill Yield .04% +1 bp

• Yield Curve 224.0 unch.

• China Import Iron Ore Spot $126.80/Metric Tonne +1.28%

• Citi US Economic Surprise Index -11.70 +.2 point
• Citi Emerging Markets Economic Surprise Index -37.70 -6.0 points

• 10-Year TIPS Spread 2.05 +2 bps

Overseas Futures:

• Nikkei Futures: Indicating +118 open in Japan

• DAX Futures: Indicating +6 open in Germany

Portfolio: 

• Higher: On gains in my tech, medical and biotech sector longs
• Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my (EEM) short
• Market Exposure: Moved to 50% Net Long