Stocks Slightly Lower into Final Hour on Global Growth Worries, Russia-Ukraine Tensions, Technical Selling, Homebuilding/Oil Service Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Mixed
  

• Volume: Slightly Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 11.82 +2.60%

• Euro/Yen Carry Return Index 143.11 +.31%

• Emerging Markets Currency Volatility(VXY) 5.81 +.17%

• S&P 500 Implied Correlation 55.12 +3.14%

• ISE Sentiment Index 93.0 -39.22%

• Total Put/Call .90 +20.0%

• NYSE Arms .68 -47.36% 

Credit Investor Angst:

• North American Investment Grade CDS Index 58.69 +.47%

• European Financial Sector CDS Index 66.30 -.42%

• Western Europe Sovereign Debt CDS Index 34.86 -.56%

• Asia Pacific Sovereign Debt CDS Index 69.84 -.39%

• Emerging Market CDS Index 239.69 +.25%

• China Blended Corporate Spread Index 303.44 -.12%

• 2-Year Swap Spread 20.25 +.75 basis point

• TED Spread 21.5 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -6.5 +.75 basis point

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 202.0 +3.0 basis points

• China Import Iron Ore Spot $93.60/Metric Tonne -.74%

• Citi US Economic Surprise Index -26.0 -2.7 points

• Citi Emerging Markets Economic Surprise Index -.7 +2.3 points

• 10-Year TIPS Spread 2.24 +3.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating +80 open in Japan

• DAX Futures: Indicating -12 open in Germany

Portfolio: 

• Higher: On gains in my retail/tech sector longs

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 50% Net Long