Weekly Scoreboard*

Indices

• S&P 500 2,046.15 -.55%

• DJIA 17,553.10 -1.08%

• NASDAQ 4,719.53 -.41%

• Russell 2000 1,100.65 -1.26%

• S&P 500 High Beta 28.69 -1.81%

• Goldman 50 Most Shorted 96.81 -3.72% 

• Wilshire 5000 21,055.10 -.59%

• Russell 1000 Growth 986.50 -.56%

• Russell 1000 Value 977.18 -.63%

• S&P 500 Consumer Staples 544.96 -.02%

• Solactive US Cyclical 128.31 -1.20%

• Morgan Stanley Technology 1,023.41 +.30%

• Transports 7,494.45 -3.19%

• Utilities 663.75 +.74%

• Bloomberg European Bank/Financial Services 76.32 -.31%

• MSCI Emerging Markets 32.61 -1.16%

• HFRX Equity Hedge 1,113.40 +.24%

• HFRX Equity Market Neutral 1,005.78 +.68%

Sentiment/Internals

• NYSE Cumulative A/D Line 248,701 +.55%

• Bloomberg New Highs-Lows Index -85 -57

• Bloomberg Crude Oil % Bulls 29.63 +18.52%

• CFTC Oil Net Speculative Position 318,544 -4.7%

• CFTC Oil Total Open Interest 1,748,628 +1.98%

• Total Put/Call 1.11 -6.72%

• OEX Put/Call .73 -17.98%

• ISE Sentiment 88.0 +6.02%

• NYSE Arms 1.92 +114.73%

• Volatility(VIX) 15.32 +4.34%

• S&P 500 Implied Correlation 54.94 +.60%

• G7 Currency Volatility (VXY) 11.29 +.44%

• Emerging Markets Currency Volatility (EM-VXY) 10.84 -1.28%

• Smart Money Flow Index 19,217.77 -.12%

• ICI Money Mkt Mutual Fund Assets $2.715 Trillion +.21%

• ICI US Equity Weekly Net New Cash Flow -$2.359 Billion

• AAII % Bulls 20.4 -8.6%

• AAII % Bears 31.3 +3.1%

Futures Spot Prices

• CRB Index 182.55 +1.47%

• Crude Oil 46.15 +3.99%

• Reformulated Gasoline 158.50 +5.93%

• Natural Gas 2.10 +.43%

• Heating Oil 140.11 +5.45%

• Gold 1,274.70 -1.15%

• Bloomberg Base Metals Index 140.47 -3.03%

• Copper 207.10 -3.74%

• US No. 1 Heavy Melt Scrap Steel 218.33 USD/Ton unch.

• China Iron Ore Spot 54.54 USD/Ton -6.43%

• Lumber 321.0 +4.83%

• UBS-Bloomberg Agriculture 1,153.15 +3.12%

Economy

• Atlanta Fed GDPNow Forecast +2.8% +110.0 basis points
• ECRI Weekly Leading Economic Index Growth Rate +5.7% +30.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index -.3761 +3.74%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 123.78 +.26%

• Citi US Economic Surprise Index -33.0 +3.7 points

• Citi Eurozone Economic Surprise Index -7.4 +3.6 points

• Citi Emerging Markets Economic Surprise Index .1 -9.7 points

• Fed Fund Futures imply 96.0% chance of no change, 4.0% chance of 25 basis point hike on 6/15

• US Dollar Index 94.62 +.87%
• MSCI Emerging Markets Currency Index 1,505.07 -.08%

• Euro/Yen Carry Return Index 128.32 +.53%

• Yield Curve 96.0 -8.0 basis points

• 10-Year US Treasury Yield 1.71% -7.0 basis points

• Federal Reserve's Balance Sheet $4.439 Trillion +.03%

• U.S. Sovereign Debt Credit Default Swap 21.14 -2.42%

• Illinois Municipal Debt Credit Default Swap 342.0 +.72%

• Western Europe Sovereign Debt Credit Default Swap Index 26.0 -.71%

• Asia Pacific Sovereign Debt Credit Default Swap Index 53.37 -3.02%
  

• Emerging Markets Sovereign Debt CDS Index 134.57 -.86%
  

• Israel Sovereign Debt Credit Default Swap 72.06 +3.55%

• Iraq Sovereign Debt Credit Default Swap 983.26 unch. 

• Russia Sovereign Debt Credit Default Swap 255.70 -2.1%

• iBoxx Offshore RMB China Corporate High Yield Index 127.93 +.58%

• 10-Year TIPS Spread 1.61% -1.0 basis point

• TED Spread 36.25 -8.25 basis points

• 2-Year Swap Spread 13.25 -1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -23.75 +.25 basis point

• N. America Investment Grade Credit Default Swap Index 81.18 -4.37%

• America Energy Sector High-Yield Credit Default Swap Index 933.0 -4.74%

• European Financial Sector Credit Default Swap Index 97.56 -2.2%
  

• Emerging Markets Credit Default Swap Index 291.66 -.43%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 145.0 unch.
  

• M1 Money Supply $3.227 Trillion +1.2%

• Commercial Paper Outstanding 1,115.70 -.4%

• 4-Week Moving Average of Jobless Claims 268,250 +10,250

• Continuing Claims Unemployment Rate 1.6% +10 basis points

• Average 30-Year Mortgage Rate 3.57% -4.0 basis points

• Weekly Mortgage Applications 490.50 +.43%

• Bloomberg Consumer Comfort 41.7 -.3 point

• Weekly Retail Sales +1.10% +30.0 basis points

• Nationwide Gas $2.21/gallon +.01/gallon

• Baltic Dry Index 579.0 -8.24%

• China (Export) Containerized Freight Index 652.80 +1.43%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 40.0 +6.67%

• Rail Freight Carloads 259,876 +.56%

Best Performing Style

• Large-Cap Growth -.3%

Worst Performing Style

• Small-Cap Value -1.2%

Leading Sectors

• Internet +2.0%

• Software +1.9%

• Foods +1.6%

• Utilities +.9%

• Drugs +.9%

Lagging Sectors

• Road & Rail -4.1% 

• Retail -4.2%

• Hospitals -5.8%

• Oil Service -6.0%

• Steel -8.0%

Weekly High-Volume Stock Gainers (23)

• LXU, AVXS, MKTO, KKD, TRUP, EA, NTRA, YELP, DERM, DW, BUFF, CVCO, AKRX, USPH, CUBI, AMH, TDG, ATVI, JACK, POST, JEC, PETS and PLNT

Weekly High-Volume Stock Losers (29)

• ALK, PINC, WEN, HMHC, TISI, JWN, BANC, FOGO, PVH, PBYI, SSNI, LGIH, TREX, RBC, GIII, IPXL, LL, CHRS, AMRI, GTN, KSS, PRAA, M, ZBRA, GPS, FRGI, IMPV, FOSL and XENT

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Lower into Afternoon on Global Growth Concerns, Oil Decline, Yen Strength, Road & Rail/Financial Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Most Sectors Declining
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 14.36 -.35%

• Euro/Yen Carry Return Index 128.45 -.89%

• Emerging Markets Currency Volatility(VXY) 10.84 +1.12%

• S&P 500 Implied Correlation 53.38 -.35%

• ISE Sentiment Index 88.0 -6.38%

• Total Put/Call .92 -27.56%

• NYSE Arms 1.75 +22.26% 

Credit Investor Angst:

• North American Investment Grade CDS Index 81.49 +.53%
  

• America Energy Sector High-Yield CDS Index 924.0 -4.29%

• European Financial Sector CDS Index 97.87 +.51%

• Western Europe Sovereign Debt CDS Index 25.87 +.79%

• Asia Pacific Sovereign Debt CDS Index 53.38 +.68%

• Emerging Market CDS Index 289.17 +.46%
  

• iBoxx Offshore RMB China Corporate High Yield Index 127.93 unch.

• 2-Year Swap Spread 13.25 +.25 basis point
  

• TED Spread 36.25 -1.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -24.0 -1.5 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 71.62 -.62%
• 3-Month T-Bill Yield .27% unch.

• Yield Curve 96.0 -4.0 basis points
  

• China Import Iron Ore Spot $54.54/Metric Tonne -.93%

• Citi US Economic Surprise Index -33.0 +5.5 points

• Citi Eurozone Economic Surprise Index -7.4 +2.5 points

• Citi Emerging Markets Economic Surprise Index .1 -3.5 points

• 10-Year TIPS Spread 1.62% -1.0 basis point
  
• 17.4% chance of Fed rate hike at July 27 meeting, 35.6% chance at September 21 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +18 open in Japan 
• China A50 Futures: Indicating -69 open in China

• DAX Futures: Indicating -39 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 25% Net Long

Bear Radar

Style Underperformer:

• Large-Cap Value -.3%

Sector Underperformers:

• 1) Steel -1.9% 2) Oil Service -1.9% 3) Road & Rail -1.8%

Stocks Falling on Unusual Volume:

• NVEE, JWN, SINA, BITA, SRG, KORS, DXPE, HUM, YRD, WSM, DKS, SPG, TIF, PRTY, HTHT, PHIIK, PRGO, TGT, HTD, FLT, SKT, CUK, WPPGY, SWFT and TDOC

Stocks With Unusual Put Option Activity:

• 1) TGT 2) DKS 3) XLF 4) WMT 5) KRE

Stocks With Most Negative News Mentions:

• 1) DECK 2) JWN 3) KORS 4) FOSL 5) LC

Charts:

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

Bull Radar

Style Outperformer: 

• Small-Cap Growth +.4%

Sector Outperformers:

• 1) Biotech +1.3% 2) Gold & Silver +1.2% 3) Semis +.9% 

Stocks Rising on Unusual Volume: 

• SJI, NVDA, KSS, CXRX, VNET and ROVI

Stocks With Unusual Call Option Activity: 

• 1) LGF 2) DLTR 3) PAGP 4) ALB 5) JCP

Stocks With Most Positive News Mentions: 

• 1) NVDA 2) SHAK 3) SYMC 4) RLGY 5) HIMX

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running -9.6% Below 100-Day Average
• 3 Sectors Rising, 7 Sectors Declining
• 35.8% of Issues Advancing, 61.7% Declining
• 60 New 52-Week Highs, 34 New Lows
• 52.5% of Issues Above 200-day Moving Average
• Average 14-Day RSI 41.5%
• Vix 14.7 +1.9%
• Total Put/Call 1.03 -18.9%
• TRIN/Arms 1.43 +.13%