Market Week in Review

• S&P 500 2,109.99 +.76%*

The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices

• S&P 500 2,109.99 +.76%

• DJIA 18,015.95 +.65%

• NASDAQ 5,117.0 +1.31%

• Russell 2000 1,284.66 +1.55%

• S&P 500 High Beta 34.57 -.15%

• Goldman 50 Most Shorted 149.79 +3.32% 

• Wilshire 5000 22,138.49 +.82%

• Russell 1000 Growth 1,014.28 +.99%

• Russell 1000 Value 1,033.69 +.52%

• S&P 500 Consumer Staples 500.68 +1.92%

• Solactive US Cyclical 136.68 -.08%

• Morgan Stanley Technology 1,044.61 +.27%

• Transports 8,411.88 -.06%

• Utilities 569.68 +1.63%

• Bloomberg European Bank/Financial Services 116.31 -1.63%

• MSCI Emerging Markets 40.25 +.51%

• HFRX Equity Hedge 1,220.52 -.04%

• HFRX Equity Market Neutral 992.21 +.34%

Sentiment/Internals

• NYSE Cumulative A/D Line 237,043 +.25%

• Bloomberg New Highs-Lows Index 170 +173

• Bloomberg Crude Oil % Bulls 39.13 +69.54%

• CFTC Oil Net Speculative Position 325,855 -4.02%

• CFTC Oil Total Open Interest 1,641,774 -.59%

• Total Put/Call .91 -13.33%

• OEX Put/Call 1.08 +18.68%

• ISE Sentiment 84.0 -26.96%

• NYSE Arms 1.80 -3.23%

• Volatility(VIX) 13.96 +1.31%

• S&P 500 Implied Correlation 63.40 +3.71%

• G7 Currency Volatility (VXY) 9.86 -4.73%

• Emerging Markets Currency Volatility (EM-VXY) 8.99 -3.95%

• Smart Money Flow Index 17,498.44 +.71%

• ICI Money Mkt Mutual Fund Assets $2.599 Trillion -.42%

• ICI US Equity Weekly Net New Cash Flow -$3.879 Billion

• AAII % Bulls 25.4 +26.8%

• AAII % Bears 34.3 +5.3%

Futures Spot Prices

• CRB Index 222.13 -.63%

• Crude Oil 59.61 -.55%

• Reformulated Gasoline 205.86 -2.78%

• Natural Gas 2.82 +1.88%

• Heating Oil 186.69 -.98%

• Gold 1,201.90 +1.79%

• Bloomberg Base Metals Index 161.54 -3.17%

• Copper 256.90 -4.0%

• US No. 1 Heavy Melt Scrap Steel 249.33 USD/Ton +7.6%

• China Iron Ore Spot 61.36 USD/Ton -5.79%

• Lumber 298.60 +1.39%

• UBS-Bloomberg Agriculture 1,062.0 -.28%

Economy

• ECRI Weekly Leading Economic Index Growth Rate 1.0% +10.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index .0432 unch.

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 125.30 +.15%

• Citi US Economic Surprise Index -36.0 -3.0 points

• Citi Eurozone Economic Surprise Index -2.8 -6.1 points

• Citi Emerging Markets Economic Surprise Index -16.90 -1.1 points

• Fed Fund Futures imply 56.0% chance of no change, 44.0% chance of 25 basis point cut on 7/29

• US Dollar Index 94.09 -.87%

• Euro/Yen Carry Return Index 145.39 +.12%

• Yield Curve 164.0 -2.0 basis points

• 10-Year US Treasury Yield 2.26% -12.0 basis points

• Federal Reserve's Balance Sheet $4.450 Trillion +.45%

• U.S. Sovereign Debt Credit Default Swap 16.78 +1.65%

• Illinois Municipal Debt Credit Default Swap 216.0 -3.12%

• Western Europe Sovereign Debt Credit Default Swap Index 28.87 +12.42%

• Asia Pacific Sovereign Debt Credit Default Swap Index 61.22 -2.10%
  

• Emerging Markets Sovereign Debt CDS Index 319.27 -.35%
  

• Israel Sovereign Debt Credit Default Swap 64.92 -.12%

• Iraq Sovereign Debt Credit Default Swap 671.54 -.55%

• Russia Sovereign Debt Credit Default Swap 354.16 +1.48%

• iBoxx Offshore RMB China Corporates High Yield Index 120.59 +.28%

• 10-Year TIPS Spread 1.88% +2.0 basis points

• TED Spread 28.0 unch.

• 2-Year Swap Spread 25.25 -2.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -19.25 +1.0 basis point

• N. America Investment Grade Credit Default Swap Index 67.81 +1.0%

• America Energy Sector High-Yield Credit Default Swap Index 1,555.0 -2.62%

• European Financial Sector Credit Default Swap Index 89.87 +14.44%
  

• Emerging Markets Credit Default Swap Index 310.55 -.63%
  

• CMBS AAA Super Senior 10-Year Treasury Spread  to Swaps 87.50 unch.

• M1 Money Supply $2.963 Trillion -.04%

• Commercial Paper Outstanding 974.50 +1.0%

• 4-Week Moving Average of Jobless Claims 276,750 -2,000

• Continuing Claims Unemployment Rate 1.7% unch.

• Average 30-Year Mortgage Rate 4.0% -4 basis points

• Weekly Mortgage Applications 378.50 -5.49%

• Bloomberg Consumer Comfort 40.9 +.8 point

• Weekly Retail Sales +1.20% unch.

• Nationwide Gas $2.80/gallon +.01/gallon

• Baltic Dry Index 773.0 +20.4%

• China (Export) Containerized Freight Index 825.97 -2.99%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 40.0 +14.3%

• Rail Freight Carloads 283,363 +.73%

Best Performing Style

• Small-Cap Growth +2.0%

Worst Performing Style

• Large-Cap Value +.8%

Leading Sectors

• HMOs +6.3%

• Biotech +4.0%

• Homebuilders +3.2%

• Hospitals +3.2%

• Utilities +2.3%

Lagging Sectors

• I-Banks -.7% 

• Computer Hardware -.9%

• Steel -2.8%

• Oil Service -2.9%

• Coal -6.2%

Weekly High-Volume Stock Gainers (25)

• TRAK, AERI, ADMS, KYTH, POZN, RDUS, COTY, TRIP, LTRPA, NYRT, CI, LPG, NCR, NHTC, IL, BCC, KFY, RYL, WRE, MASI, BOBE, HRC, BEE, ZAYO and OPB

Weekly High-Volume Stock Losers (12)

• HCHC, SSTK, GRUB, JBL, AVHI, REI, ONDK, RATE, EGN, CNSI, AGIO and AAVL

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling into Afternoon on Greek Debt Deal Worries, Global Growth Concerns, China Bubble Fears, Commodity/Gaming Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 13.41 +1.67%

• Euro/Yen Carry Return Index 145.48 -.33%

• Emerging Markets Currency Volatility(VXY) 8.95 +.34%

• S&P 500 Implied Correlation 62.14 -.50%

• ISE Sentiment Index 98.0 +10.11%

• Total Put/Call .83 -10.75%

• NYSE Arms 1.81 +185.60% 

Credit Investor Angst:

• North American Investment Grade CDS Index 67.91 -.51%

• America Energy Sector High-Yield CDS Index 1,554.0 -.29%

• European Financial Sector CDS Index 89.87 -1.29%

• Western Europe Sovereign Debt CDS Index 28.88 +.03%

• Asia Pacific Sovereign Debt CDS Index 61.22 -.15%

• Emerging Market CDS Index 308.90 +.62%
  

• iBoxx Offshore RMB China Corporates High Yield Index 120.59 +.10%

• 2-Year Swap Spread 25.25 -.5 basis point

• TED Spread 28.5 +.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -19.25 +.5 basis point

Economic Gauges:

• 3-Month T-Bill Yield .00% unch.

• Yield Curve 165.0 -5.0 basis points

• China Import Iron Ore Spot $61.36/Metric Tonne -.66%

• Citi US Economic Surprise Index -36.0 -.2 point

• Citi Eurozone Economic Surprise Index -2.80 -.9 point

• Citi Emerging Markets Economic Surprise Index -16.90 -.4 point

• 10-Year TIPS Spread 1.89 -2.0 basis points

Overseas Futures:

• Nikkei 225 Futures: Indicating -15 open in Japan 
• China A50 Futures: Indicating -13 open in China

• DAX Futures: Indicating +6 open in Germany

Portfolio: 

• Higher: On gains in my biotech/retail/medical sector longs and emerging markets shorts

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

• Market Exposure: Moved to 25% Net Long

Bear Radar

Style Underperformer:

• Large-Cap Value -.44%

Sector Underperformers:

• 1) Coal -2.02% 2) Oil Service -1.76% 3) Gaming -1.30%

Stocks Falling on Unusual Volume:

• WSTC, HWAY, TERP, KWEB, MAC, FNSR, ZOES, RAVE, NNBR, AAVL, RDHL, KMX, HSY, AMBA, KB, TKMR, DBVT, EHIC, AAOI, AIT, SHG, RUBI, NVS, VILE, ORCL, MDXG, CAVM, ISLE and SAGE

Stocks With Unusual Put Option Activity:

• 1) WBA 2) SWN 3) ADSK 4) KMX 5) JNK
  

Stocks With Most Negative News Mentions:

• 1) ZOES 2) FNSR 3) BMRN 4) PBR 5) AIT
  

Charts:

• ETFs Falling on Unusual Volume

• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Value -.03%

Sector Outperformers:

• 1) Homebuilders +2.21% 2) Hospitals +1.37% 3) Airlines +.99%
  

Stocks Rising on Unusual Volume:

• CAG, THS, KBH, ADXS, PF, FGEN and TWTR

Stocks With Unusual Call Option Activity:

• 1) COTY 2) DTV 3) CAG 4) FNSR 5) PAA
  

Stocks With Most Positive News Mentions:

• 1) RHT 2) MDT 3) FIT 4) KBH 5) ODP
  

Charts:

• ETFs Rising on Unusual Volume 

• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running 34.1% Above 100-day average
• 3 Sectors Rising, 7 Sectors Declining
• 46.2% of Issues Advancing, 49.8% Declining
• 63 New 52-Week Highs, 34 New Lows
• 52.1% of Issues Above 200-day Moving Average
• Average 14-Day RSI 45.1
• Vix 13.2
• Total Put/Call .98
• TRIN/Arms 1.36