Market Week in Review

• S&P 500 2,005.55 -.34%*

The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices

• S&P 500 2,005.55 -.34%

• DJIA 17,128.55 -.79%

• NASDAQ 4,923.08 -.21%

• Russell 2000 1,121.02 -.23%

• S&P 500 High Beta 28.28 -2.35%

• Goldman 50 Most Shorted 102.47 +1.84% 

• Wilshire 5000 20,712.49 -.34%

• Russell 1000 Growth 983.50 -.39%

• Russell 1000 Value 944.44 -.31%

• S&P 500 Consumer Staples 507.57 +.49%

• Solactive US Cyclical 120.28 -2.04%

• Morgan Stanley Technology 1,067.98 -.77%

• Transports 7,364.04 -2.13%

• Utilities 567.94 +305%

• Bloomberg European Bank/Financial Services 99.04 +3.57%

• MSCI Emerging Markets 32.70 +2.22%

• HFRX Equity Hedge 1,152.02 -.10%

• HFRX Equity Market Neutral 1,044.99 +.51%

Sentiment/Internals

• NYSE Cumulative A/D Line 228,228 -.48%

• Bloomberg New Highs-Lows Index -593 +11

• Bloomberg Crude Oil % Bulls 26.7 +44.0%

• CFTC Oil Net Speculative Position 210,511 +6.39%

• CFTC Oil Total Open Interest 1,678,527 -2.05%

• Total Put/Call 1.0 -6.54%

• OEX Put/Call .65 -64.09%

• ISE Sentiment 68.0 +34.0%

• NYSE Arms 1.80 +28.94%

• Volatility(VIX) 20.04 -16.07%

• S&P 500 Implied Correlation 61.66 +3.04%

• G7 Currency Volatility (VXY) 9.22 -1.71%

• Emerging Markets Currency Volatility (EM-VXY) 11.42 -1.47%

• Smart Money Flow Index 17,853.21 +.13%

• ICI Money Mkt Mutual Fund Assets $2.734 Trillion -.74%

• ICI US Equity Weekly Net New Cash Flow -$5.213 Billion

• AAII % Bulls 23.9 -16.3%

• AAII % Bears 39.4 +31.8%

Futures Spot Prices

• CRB Index 172.16 -1.54%

• Crude Oil 34.64 -2.09%

• Reformulated Gasoline 127.25 -.17%

• Natural Gas 1.7 -10.31%

• Heating Oil 110.81 -3.39%

• Gold 1,064.80 -.78%

• Bloomberg Base Metals Index 135.52 -.42%

• Copper 210.90 -.21%

• US No. 1 Heavy Melt Scrap Steel 142.33 USD/Ton +1.79%

• China Iron Ore Spot 40.10 USD/Ton +4.70%

• Lumber 267.40 +2.85%

• UBS-Bloomberg Agriculture 1,059.91 +1.16%

Economy

• ECRI Weekly Leading Economic Index Growth Rate -.6% +20.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index -.4564 +7.7%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 125.83 -.15%

• Citi US Economic Surprise Index -23.90 -1.6 points

• Citi Eurozone Economic Surprise Index 18.70 +1.4 points

• Citi Emerging Markets Economic Surprise Index 18.10 +2.5 points

• Fed Fund Futures imply 96.0% chance of no change, 0.0% chance of 25 basis point hike on 1/27

• US Dollar Index 98.70 +1.08%
• MSCI Emerging Markets Currency Index 1,456.70 +.34%

• Euro/Yen Carry Return Index 137.69 -.92%

• Yield Curve 124.0 -2.0 basis points

• 10-Year US Treasury Yield 2.20% +7.0 basis points

• Federal Reserve's Balance Sheet $4.451 Trillion +.21%

• U.S. Sovereign Debt Credit Default Swap 19.02 -2.46%

• Illinois Municipal Debt Credit Default Swap 286.0 +.34%

• Western Europe Sovereign Debt Credit Default Swap Index 17.23 +2.12%

• Asia Pacific Sovereign Debt Credit Default Swap Index 74.48 -5.0%
  

• Emerging Markets Sovereign Debt CDS Index 175.51 -4.25%
  

• Israel Sovereign Debt Credit Default Swap 78.97 -.25%

• Iraq Sovereign Debt Credit Default Swap 855.04 +.40%

• Russia Sovereign Debt Credit Default Swap 311.36 +1.37%

• iBoxx Offshore RMB China Corporates High Yield Index 123.54 +.08%

• 10-Year TIPS Spread 1.50% +2.0 basis points

• TED Spread 30.75 +6.0 basis points

• 2-Year Swap Spread 13.50 +3.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -28.75 +8.0 basis points

• N. America Investment Grade Credit Default Swap Index 94.58 +3.79%

• America Energy Sector High-Yield Credit Default Swap Index 1,801.0 +24.16%

• European Financial Sector Credit Default Swap Index 76.08 -.66%
  

• Emerging Markets Credit Default Swap Index 357.04 -4.04%
  

• CMBS AAA Super Senior 10-Year Treasury Spread  to Swaps 140.0 +10.0 basis points

• M1 Money Supply $3.048 Trillion -1.72%

• Commercial Paper Outstanding 1,014.50 -2.10%

• 4-Week Moving Average of Jobless Claims 270,500 -250

• Continuing Claims Unemployment Rate 1.7% unch.

• Average 30-Year Mortgage Rate 3.97% +2.0 basis points

• Weekly Mortgage Applications 419.40 -1.11%

• Bloomberg Consumer Comfort 40.9 +.8 point

• Weekly Retail Sales +1.70% -20.0 basis points

• Nationwide Gas $2.00/gallon -.01

• Baltic Dry Index 471.0 -9.77%

• China (Export) Containerized Freight Index 716.42 +.54%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 55.0 +4.76%

• Rail Freight Carloads 274,022 +1.39%

Best Performing Style

• Large-Cap Value unch.

Worst Performing Style

• Mid-Cap Value -.6%

Leading Sectors

• Alt Energy +10.8%

• Utilities +3.7%

• Biotech +3.3%

• HMOs +3.3%

• Coal +2.6%

Lagging Sectors

• Hospitals -4.3% 

• Computer Hardware -4.3%

• Gold & Silver -5.3%

• Steel -5.4%

• Oil Tankers -33.0%

Weekly High-Volume Stock Gainers (19)

• RUN, FNSR, COLL, ADXS, EDE, KE, LL, AKBA, RSO, MCRB, HPY, ATRO, CNP, PFGC, NCS, MNR, JAH, NP and APTS

Weekly High-Volume Stock Losers (18)

• TOWN, NWL, RH, DMTX, FDC, QDEL, WCC, AGX, CTCT, GPN, ONCE, WDR, WGO, WSTC, RPXC, LDR, KMT and ATRA

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling into Afternoon on China Bubble-Bursting Worries, European/Emerging Markets/US High-Yield Debt Angst, Yen Strength, Transport/Financial Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Almost Every Sector Declining
  

• Volume: Above Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 20.7 +9.2%

• Euro/Yen Carry Return Index 137.51 -.82%

• Emerging Markets Currency Volatility(VXY) 11.38 +.89%

• S&P 500 Implied Correlation 62.80 +1.70%

• ISE Sentiment Index 64.0 -13.51%

• Total Put/Call .99 +3.13%

• NYSE Arms 1.71 -45.90% 

Credit Investor Angst:

• North American Investment Grade CDS Index 95.25 +.92%

• America Energy Sector High-Yield CDS Index 1,800.0 +2.77%

• European Financial Sector CDS Index 76.54 +2.24%

• Western Europe Sovereign Debt CDS Index 17.32 -.20%

• Asia Pacific Sovereign Debt CDS Index 74.47 +1.43%

• Emerging Market CDS Index 357.13 +1.45%
  

• iBoxx Offshore RMB China Corporate High Yield Index 123.54 +.04%

• 2-Year Swap Spread 13.5 +3.5 basis points

• TED Spread 31.0 -4.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -29.25 -2.25 basis points

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 69.31 +.24%
• 3-Month T-Bill Yield .18% -4.0 basis points

• Yield Curve 123.0 -1.0 basis point

• China Import Iron Ore Spot $40.10/Metric Tonne +1.70%

• Citi US Economic Surprise Index -23.9 unch.

• Citi Eurozone Economic Surprise Index 18.7 -.3 point

• Citi Emerging Markets Economic Surprise Index 18.10 +.3 basis point

• 10-Year TIPS Spread 1.50 unch.
• 67.6% chance of next Fed rate hike at June 15 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -111 open in Japan 
• China A50 Futures: Indicating -140 open in China

• DAX Futures: Indicating -37 open in Germany

Portfolio: 

• Slightly Lower: On losses in my retail/tech/medical sector longs 

• Disclosed Trades: None

• Market Exposure: 25% Net Long

Bear Radar

Style Underperformer: 

• Small-Cap Value -1.51%

Sector Underperformers: 

• 1) Banks -2.3% 2) Oil Service -2.1% 3) Road & Rail -2.1%

Stocks Falling on Unusual Volume:

• KNX, OSIR, HUBG, IRBT, CFR, ZOES, CWEI, CRF, WERN, FCN, HTLD, TCBI, BOKF, TRP, UFCS, WMB, APOG, KE, DIS, KND, MLHR, GLOP, IBOC, CEQP, ANET, BPFH, GVA, FCN, CFR, JBHT, ETE, IBKC, SAIA, BA, CASY, PB, WIBC, WMB, BDC, APOG and KMX

Stocks With Unusual Put Option Activity: 

• 1) USB 2) LOW 3) KMX 4) HES 5) ALTR

Stocks With Most Negative News Mentions: 

• 1) FOSL 2) ICPT 3) KNX 4) UNP 5) JPM

Charts:

• ETFs Falling on Unusual Volume 
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Growth -1.01%

Sector Outperformers: 

• 1) Gold & Silver +4.6% 2) HMOs +.17% 3) Alt Energy +.07%

Stocks Rising on Unusual Volume: 

• RWLK, GMLP, FXCM, TGP, DRI, RUN, SQM, FMI, VTAE, CLMT and DYN

Stocks With Unusual Call Option Activity: 

• 1) SIRI 2) RHT 3) INFN 4) DNKN 5) DLR

Stocks With Most Positive News Mentions: 

• 1) RHT 2) DRI 3) CCL 4) AA 5) UA

Charts: 

• ETFs Rising on Unusual Volume 
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running +25.6% Above 100-Day Average
• 0 Sectors Rising, 10 Sectors Declining
• 40.1% of Issues Advancing, 57.5% Declining
• 10 New 52-Week Highs, 161 New Lows
• 30.1% of Issues Above 200-day Moving Average
• Average 14-Day RSI 37.3
• Vix 19.5 +3.2%
• Total Put/Call 1.09 +13.5%
• TRIN/Arms 1.8 -43.8%