Market Week in Review

• S&P 500 1,880.05 -3.1%

The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices

• S&P 500 1,880.05 -3.1%

• DJIA 16,204.97 -1.59%

• NASDAQ 4,363.14 -5.44%

• Russell 2000 985.62 -4.81%

• S&P 500 High Beta 24.82 -3.35%

• Goldman 50 Most Shorted 84.66 -3.59% 

• Wilshire 5000 19,227.18 -3.29%

• Russell 1000 Growth 907.07 -3.86%

• Russell 1000 Value 891.52 -2.41%

• S&P 500 Consumer Staples 508.98 -2.26%

• Solactive US Cyclical 112.72 +.1%

• Morgan Stanley Technology 913.52 -7.19%

• Transports 6,942.82 +.52%

• Utilities 624.62 +2.17%

• Bloomberg European Bank/Financial Services 79.15 -6.38%

• MSCI Emerging Markets 30.20 -.45%

• HFRX Equity Hedge 1,092.46 +.12%

• HFRX Equity Market Neutral 1,031.09 -.26%

Sentiment/Internals

• NYSE Cumulative A/D Line 224,250 +.98%

• Bloomberg New Highs-Lows Index -316 +386

• Bloomberg Crude Oil % Bulls 41.03 +5.5%

• CFTC Oil Net Speculative Position 196,873 -4.3%

• CFTC Oil Total Open Interest 1,855,603 +5.32%

• Total Put/Call .95 +5.56%

• OEX Put/Call 1.14 +37.35%

• ISE Sentiment 48.0 -49.02%

• NYSE Arms 1.37 +71.42%

• Volatility(VIX) 24.08 +17.22%

• S&P 500 Implied Correlation 64.18 +7.09%

• G7 Currency Volatility (VXY) 10.41 +3.27%

• Emerging Markets Currency Volatility (EM-VXY) 12.59 +4.39%

• Smart Money Flow Index 17,698.08 +2.90%

• ICI Money Mkt Mutual Fund Assets $2.752 Trillion -.15%

• ICI US Equity Weekly Net New Cash Flow -$6.243 Billion

• AAII % Bulls 27.5 -7.4%

• AAII % Bears 34.7 -13.1%

Futures Spot Prices

• CRB Index 161.93 -2.89%

• Crude Oil 30.82 -8.74%

• Reformulated Gasoline 99.09 -12.22%

• Natural Gas 2.07 -10.41%

• Heating Oil 105.96 -.5%

• Gold 1,163.60 +3.90%

• Bloomberg Base Metals Index 138.89 +2.35%

• Copper 208.60 +1.19%

• US No. 1 Heavy Melt Scrap Steel 167.33 USD/Ton unch.

• China Iron Ore Spot 45.73 USD/Ton +9.61%

• Lumber 252.10 +4.0%

• UBS-Bloomberg Agriculture 1,011.75 -1.13%

Economy

• ECRI Weekly Leading Economic Index Growth Rate -2.3% -10.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index -.2680 +5.63%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 123.20 -.29%

• Citi US Economic Surprise Index -55.70 -8.6 points

• Citi Eurozone Economic Surprise Index -19.40 +5.7 points

• Citi Emerging Markets Economic Surprise Index -6.20 -2.4 points

• Fed Fund Futures imply 90.0% chance of no change, 10.0% chance of 25 basis point hike on 3/16

• US Dollar Index 97.04 -2.50%
• MSCI Emerging Markets Currency Index 1,442.35 +.36%

• Euro/Yen Carry Return Index 136.14 -.71%

• Yield Curve 113.0 -2.0 basis points

• 10-Year US Treasury Yield 1.85% -8.0 basis points

• Federal Reserve's Balance Sheet $4.445 Trillion +.03%

• U.S. Sovereign Debt Credit Default Swap 22.04 +5.5%

• Illinois Municipal Debt Credit Default Swap 300.0 -.36%

• Western Europe Sovereign Debt Credit Default Swap Index 26.87 +26.03%

• Asia Pacific Sovereign Debt Credit Default Swap Index 79.47 +3.45%
  

• Emerging Markets Sovereign Debt CDS Index 196.04 +1.97%
  

• Israel Sovereign Debt Credit Default Swap 81.60 +2.92%

• Iraq Sovereign Debt Credit Default Swap 1,061.68 -.27%

• Russia Sovereign Debt Credit Default Swap 339.77 +2.17%

• iBoxx Offshore RMB China Corporates High Yield Index 122.83 +.34%

• 10-Year TIPS Spread 1.33% -8.0 basis points

• TED Spread 33.0 +3.25 basis points

• 2-Year Swap Spread 8.5 +2.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -21.25+2.0 basis points

• N. America Investment Grade Credit Default Swap Index 111.83 +9.77%

• America Energy Sector High-Yield Credit Default Swap Index 2,025.0 +6.29%

• European Financial Sector Credit Default Swap Index 119.36 +30.5%
  

• Emerging Markets Credit Default Swap Index 379.81 +2.60%
  

• CMBS AAA Super Senior 10-Year Treasury Spread  to Swaps 160.0 unch.

• M1 Money Supply $3.102 Trillion +.83%

• Commercial Paper Outstanding 1,064.80 +.30%

• 4-Week Moving Average of Jobless Claims 284,250 +2,000

• Continuing Claims Unemployment Rate 1.7% unch.

• Average 30-Year Mortgage Rate 3.72% -7.0 basis points

• Weekly Mortgage Applications 434.50 +9.03%

• Bloomberg Consumer Comfort 44.2 -.4 point

• Weekly Retail Sales +1.20% -20.0 basis points

• Nationwide Gas $1.76/gallon -.05/gallon

• Baltic Dry Index 298.0 -5.99%

• China (Export) Containerized Freight Index 772.27 -.84%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 32.50 -7.14%

• Rail Freight Carloads 263,785 +4.21%

Best Performing Style

• Mid-Cap Value -2.0%

Worst Performing Style

• Small-Cap Growth -5.6%

Leading Sectors

• Gold & Silver +16.9%

• Steel +3.8%

• Road & Rail +2.9%

• Utilities +2.5%

• Agriculture +1.5%

Lagging Sectors

• Homebuilders -6.0% 

• Restaurants -6.1%

• Software -7.8%

• Internet -8.6%

• Gaming -8.7%

Weekly High-Volume Stock Gainers (13)

• AXLL, ALR, CSCD, COHR, STR, JBSS, MAT, CENT, LITE, SMSEY, ACC, EE and MSM

Weekly High-Volume Stock Losers (17)

• RCL, MNST, HEI/A, RHI, NGVC, PFPT, QSII, MRD, RL, IMPV, ABAX, PLT, RCII, IDTI, SPSC, SNCR and MOG/A

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling into Afternoon on Surging European Debt Angst, Fed Rate Hike Fears, Earnings Outlook Worries, Tech/Biotech Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Almost Every Sector Declining
  

• Volume: Above Average

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 22.71 +3.98%

• Euro/Yen Carry Return Index 136.10 -.53%

• Emerging Markets Currency Volatility(VXY) 12.59 +1.12%

• S&P 500 Implied Correlation 63.0 -.14%

• ISE Sentiment Index 50.0 -5.66%

• Total Put/Call .94 +1.08%

• NYSE Arms .95 +27.62% 

Credit Investor Angst:

• North American Investment Grade CDS Index 111.74 +2.03%

• America Energy Sector High-Yield CDS Index 2,020.0 +.43%

• European Financial Sector CDS Index 120.29 +11.6%

• Western Europe Sovereign Debt CDS Index 26.65 +2.84%

• Asia Pacific Sovereign Debt CDS Index 79.44 -.13%

• Emerging Market CDS Index 377.88 +.82%
  

• iBoxx Offshore RMB China Corporate High Yield Index 122.83 +.30%

• 2-Year Swap Spread 8.5 +1.0 basis point

• TED Spread 33.0 +3.75 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -21.25 -1.5 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 68.63 -.32%
• 3-Month T-Bill Yield .28% -1.0 basis point

• Yield Curve 113.0 -2.0 basis points

• China Import Iron Ore Spot $45.73/Metric Tonne +.46%

• Citi US Economic Surprise Index -55.7 unch.

• Citi Eurozone Economic Surprise Index -19.40 -.6 point

• Citi Emerging Markets Economic Surprise Index -6.20 +2.3 points

• 10-Year TIPS Spread 1.35% -2.0 basis points
• 17.3% chance of Fed rate hike at April 27 meeting, 32.2% chance at June 15 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -255 open in Japan 
• China A50 Futures: Indicating -176 open in China

• DAX Futures: Indicating -1 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 25% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Growth -2.8%

Sector Underperformers:

• 1) Social Media -6.7% 2) Software -3.6% 3) Biotech -3.0%

Stocks Falling on Unusual Volume:

• LNKD, DATA, ESL, LGF, HES, NEWR, SPLK, SWIR, OUTR, QLIK, LXFT, STRZA, DECK, ZEN, PANW, WDAY, CALD, CRM, HBI, COP, PKI, PLUS, PCTY, GWRE, LVNTA, GOOG, SHOO, OC, INCY, STZ, ADS, LB, UA, AMZN, SBUX, TPX, FB, RNG, NTGR, SAGE, SRCL, BECN, ADBE, SGEN, ULTA, TRIP, TXTR, TBI, PKI, TSLA, W, ULTI, TDOC, LOGM, NWSA, DWA, PIHI, NSR, CSOD, AGIO, ATHN, DV, ELLI, HES, PFPT, NOW, LCI, DXCM, N, TYL, WDAY, DWRE, EPAM, HBI, CALD, QLIK and HUBS

Stocks With Unusual Put Option Activity:

• 1) VWO 2) ULTA 3) CRM 4) VFC 5) KBH

Stocks With Most Negative News Mentions:

• 1) COP 2) LNKD 3) OUTR 4) DATA 5) RL

Charts:

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

Bull Radar

Style Outperformer: 

• Large-Cap Value -1.0% 

Sector Outperformers:

• 1) Gold & Silver +2.0% 2) Tobacco +1.2% 3) Ag +.2% 
  

Stocks Rising on Unusual Volume: 

• TSNU, MFLX, UBNT, DTK, SNCR, LITE, POST, POST and G

Stocks With Unusual Call Option Activity: 

• 1) YRCW 2) VWO 3) DATA 4) GNC 5) LNKD

Stocks With Most Positive News Mentions: 

• 1) UBNT 2) ALL 3) KO 4) TSN 5) SYMC

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running +27.7% Above 100-Day Average
• 3 Sectors Rising, 7 Sectors Declining
• 24.1% of Issues Advancing, 75.6% Declining
• 41 New 52-Week Highs, 130 New Lows
• 21.1% of Issues Above 200-day Moving Average
• Average 14-Day RSI 40.6%
• Vix 22.9 +4.8%
• Total Put/Call 1.02 +9.7%
• TRIN/Arms .84 +13.0%