Weekly Scoreboard*

Indices

• S&P 500 2,136.20 +.48%

• DJIA 18,122.20 +.18%

• NASDAQ 5,239.22 +2.17%

• Russell 2000 1,223.22 +.35%

• S&P 500 High Beta 31.89 -.80%

• Goldman 50 Most Shorted 115.17 -.37% 

• Wilshire 5000 22,124.0 +.35%

• Russell 1000 Growth 1,033.95 +1.17%

• Russell 1000 Value 1,022.83 -.31%

• S&P 500 Consumer Staples 541.80 +.50%

• Solactive US Cyclical 136.30 -.15%

• Morgan Stanley Technology 1,180.96 +1.73%

• Transports 7,781.20 -.65%

• Utilities 670.54 +1.99%

• Bloomberg European Bank/Financial Services 75.23 -5.4%

• MSCI Emerging Markets 36.48 -2.39%

• HFRX Equity Hedge 1,131.10 -.99%

• HFRX Equity Market Neutral 995.55 -.58%

Sentiment/Internals

• NYSE Cumulative A/D Line 269.033 -.94%

• Bloomberg New Highs-Lows Index -53 -407

• Bloomberg Crude Oil % Bulls 32.35 +61.75%

• CFTC Oil Net Speculative Position 285,795 -16.26%

• CFTC Oil Total Open Interest 1,861,718 +4.13%

• Total Put/Call 1.02 -13.56%

• OEX Put/Call .67 -60.36%

• ISE Sentiment 82.0 +15.5%

• NYSE Arms 1.38 -16.07%

• Volatility(VIX) 15.93 -9.48%

• S&P 500 Implied Correlation 53.43 -5.45%

• G7 Currency Volatility (VXY) 10.12 +2.12%

• Emerging Markets Currency Volatility (EM-VXY) 10.98 +9.04%

• Smart Money Flow Index 19,575.65 +.13%

• ICI Money Mkt Mutual Fund Assets $2.659 Trillion -1.43%

• ICI US Equity Weekly Net New Cash Flow -$4.542 Billion

• AAII % Bulls 27.9 -6.1%

• AAII % Bears 35.9 +26.1%

Futures Spot Prices

• CRB Index 180.78 -.96%

• Crude Oil 43.13 -5.62%

• Reformulated Gasoline 144.62 +6.21%

• Natural Gas 2.95 +5.43%

• Heating Oil 140.67 -1.67%

• Gold 1,307.70 -1.40%

• Bloomberg Base Metals Index 148.39 -.10%

• Copper 216.0 +3.35%

• US No. 1 Heavy Melt Scrap Steel 209.33 USD/Ton unch.

• China Iron Ore Spot 55.97 USD/Ton -3.13%

• Lumber 304.20 -1.90%

• UBS-Bloomberg Agriculture 1,150.01 +.64%

Economy

• Atlanta Fed GDPNow Forecast +3.0% -30.0 basis points
• ECRI Weekly Leading Economic Index Growth Rate +8.7% +40.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index -.2784 +6.67%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 127.84 +.31%

• Citi US Economic Surprise Index -3.0 +1.9 points

• Citi Eurozone Economic Surprise Index -21.7 -3.0 points

• Citi Emerging Markets Economic Surprise Index -14.70 -3.1 points

• Fed Fund Futures imply 80.0% chance of no change, 20.0% chance of 25 basis point hike on 9/21

• US Dollar Index 96.06 +.71%
• MSCI Emerging Markets Currency Index 1,534.34 -.51%

• Euro/Yen Carry Return Index 119.30 -.92%

• Yield Curve 93.0 +4.0 basis points

• 10-Year US Treasury Yield 1.70% +3.0 basis points

• Federal Reserve's Balance Sheet $4.431 Trillion +.50%

• U.S. Sovereign Debt Credit Default Swap 25.27 -1.25%

• Illinois Municipal Debt Credit Default Swap 355.0 -.03%

• Western Europe Sovereign Debt Credit Default Swap Index 25.51 +3.53%

• Asia Pacific Sovereign Debt Credit Default Swap Index 38.55 +.7%
  

• Emerging Markets Sovereign Debt CDS Index 103.33 -.70%
  

• Israel Sovereign Debt Credit Default Swap 66.75 -4.42%

• Iraq Sovereign Debt Credit Default Swap 754.16 +2.78%

• Russia Sovereign Debt Credit Default Swap 204.97 +1.30%

• iBoxx Offshore RMB China Corporate High Yield Index 131.67 +.03%

• 10-Year TIPS Spread 1.52% +1.0 basis point
  

• TED Spread 56.50 +7.5 basis points

• 2-Year Swap Spread 25.5 -.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -33.5 -5.0 basis points

• N. America Investment Grade Credit Default Swap Index 76.33 +.8%

• America Energy Sector High-Yield Credit Default Swap Index 665.0 +.19%

• European Financial Sector Credit Default Swap Index 96.0 +8.20%
  

• Emerging Markets Credit Default Swap Index 260.57 +6.32%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 140.0 +1.0 basis point
  

• M1 Money Supply $3.292 Trillion -1.17%

• Commercial Paper Outstanding 963.70 -1.9%

• 4-Week Moving Average of Jobless Claims 260,750 -500

• Continuing Claims Unemployment Rate 1.6% unch.

• Average 30-Year Mortgage Rate 3.50% +6.0 basis points

• Weekly Mortgage Applications 572.90 +4.18%

• Bloomberg Consumer Comfort 42.20 -1.8 points

• Weekly Retail Sales +.6% -20.0 basis points

• Nationwide Gas $2.18/gallon unch.

• Baltic Dry Index 764.0 -4.98%

• China (Export) Containerized Freight Index 711.55 +2.44%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 22.50 -10.0%

• Rail Freight Carloads 230,267 -13.34%

Best Performing Style

• Small-Cap Growth +.9%

Worst Performing Style

• Mid-Cap Value -.7%

Leading Sectors

• Gaming +5.1%

• Biotech +4.1%

• Semis +3.9%

• Computer Hardware +2.3%

• Utilities +1.9%

Lagging Sectors

• Construction -3.3% 

• Alt Energy -3.8%

• Steel -3.8%

• Oil Tankers -4.8%

• Coal -7.9%

Weekly High-Volume Stock Gainers (10)

• VTAE, AERI, LXRX, FNSR, LJPC, ISIL, AAPL, CRUS, ETFC and BRC

Weekly High-Volume Stock Losers (14)

• IR, INGR, UVV, APD, RPM, CBRL, WIRE, WFC, MCK, UFPI, GMS, BECN, APOG and PII

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling into Final Hour on Fed Rate-Hike Fears, Rising European/Emerging Markets/US High-Yield Debt Angst, Oil Decline, Financial/Homebuilding Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Heavy

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 16.18 -.74%

• Euro/Yen Carry Return Index 119.33 -.46%

• Emerging Markets Currency Volatility(VXY) 10.98 +1.29%

• S&P 500 Implied Correlation 54.61 +3.9%

• ISE Sentiment Index 81.0 -30.8%
  

• Total Put/Call 1.03 +21.18%

• NYSE Arms 1.47 +119.54% 

Credit Investor Angst:

• North American Investment Grade CDS Index 76.17 +2.13%
  

• America Energy Sector High-Yield CDS Index 664.0 -3.08%

• European Financial Sector CDS Index 96.0 +4.17%

• Western Europe Sovereign Debt CDS Index 25.51 +.79%

• Asia Pacific Sovereign Debt CDS Index 38.55 +.57%

• Emerging Market CDS Index 260.57 +1.64%
  

• iBoxx Offshore RMB China Corporate High Yield Index 131.66 +.02%

• 2-Year Swap Spread 25.5 unch.

• TED Spread 56.50 +3.5 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -33.50 -4.5 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 72.13 -.3%
• 3-Month T-Bill Yield .28% unch.

• Yield Curve 92.50 +4.5 basis points
  

• China Import Iron Ore Spot $55.97/Metric Tonne unch.

• Citi US Economic Surprise Index -3.0 +6.5 points

• Citi Eurozone Economic Surprise Index -21.70 -.7 point

• Citi Emerging Markets Economic Surprise Index -14.7 -.4 point

• 10-Year TIPS Spread 1.52% +1.0 basis point
• 28.7% chance of Fed rate hike at Nov. 2 meeting, 55.4% chance at Dec. 14 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -200 open in Japan 
• China A50 Futures: Indicating +42 open in China

• DAX Futures: Indicating +2 open in Germany

Portfolio: 

• Slightly Higher: On gains in my biotech sector longs, index hedges 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 -.8%

Sector Underperformers:

• 1) Gold & Silver -2.4% 2) Homebuilders -1.9% 3) Oil Service -1.7%

Stocks Falling on Unusual Volume: 

• FCAM, CRH, MCK, NH, DB, FTRPR, DXB, FGP, DKT, SWNC, FTD, ORCL, DTK, RRC, GWW, EXPE, PRLB, LSI, SAM, PAYX, AAPL, CAA, VOD, DRQ, WFC and GWW

Stocks With Unusual Put Option Activity:

• 1) CCL 2) VNQ 3) EXPE 4) ORCL 5) SCTY

Stocks With Most Negative News Mentions:

• 1) NVAX 2) FTD 3) BAS 4) WHR 5) MKC

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth -.3%

Sector Outperformers:

• 1) HMOs +1.1% 2) Hospitals +.9% 3) Biotech +.2%

Stocks Rising on Unusual Volume:

• GNMK, AERI, DEPO, RVNC, FIX, CAR, BZUN, SCOR, GPRO, MGNX and CLCD
  

Stocks With Unusual Call Option Activity:

• 1) NVAX 2) JCI 3) ALLY 4) SLCA 5) COTA

Stocks With Most Positive News Mentions:

• 1) INTC 2) ALIM 3) GNMK 4) NURO 5) BCR

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running +22.4% Above 100-Day Average
• 1 Sector Rising, 9 Sectors Declining
• 26.5% of Issues Advancing, 70.8% Declining
• 21 New 52-Week Highs, 10 New Lows
• 59.3% of Issues Above 200-day Moving Average
• Average 14-Day RSI 37.0%
• Vix 16.2 -.4%
• Total Put/Call 1.03 +21.2%
• TRIN/Arms 1.54 +130.3%