Weekly Scoreboard*

Indices

• S&P 500 2,337.99 -1.13%

• DJIA 20,549.30 -1.30%

• NASDAQ 5,817.91 -.99%

• Russell 2000 1,349.17 -2.32%

• S&P 500 High Beta 36.30 -2.09%

• Goldman 50 Most Shorted 117.22 -1.38%

• Wilshire 5000 24,231.50 -1.38%

• Russell 1000 Growth 1,130.69 -.77%

• Russell 1000 Value 1,119.75 -1.63%

• S&P 500 Consumer Staples 561.45 -.61%

• Vanda Cyclicals-Defensives 1.2859 -1.46%
  

• Morgan Stanley Technology 1,360.72 -.46%

• Transports 8,905.66 -2.19%

• Utilities 704.91 +1.41%

• Bloomberg European Bank/Financial Services 95.88 -.88%

• MSCI Emerging Markets 39.66 +.47%

• HFRX Equity Hedge 1,181.20 -.69%

• HFRX Equity Market Neutral 1,000.86 +.11%

Sentiment/Internals

• NYSE Cumulative A/D Line 280,808 -.18%

• Bloomberg New Highs-Lows Index 125 -587

• Bloomberg Crude Oil % Bulls 25.0 -57.6%

• CFTC Oil Net Speculative Position 433,800 -14.69%

• CFTC Oil Total Open Interest 2,240.261 +4.81%

• Total Put/Call 1.24 +32.99%

• OEX Put/Call 1.35 -65.29%

• ISE Sentiment 101.0 +46.38%

• NYSE Arms 1.43 -31.25%

• Volatility(VIX) 13.28 +14.6%

• S&P 500 Implied Correlation 48.29 +5.48%

• G7 Currency Volatility (VXY) 9.11 +5.82%

• Emerging Markets Currency Volatility (EM-VXY) 9.11 +3.85%

• Smart Money Flow Index 19,514.02 -1.19%

• ICI Money Mkt Mutual Fund Assets $2.654 Trillion -.87%

• ICI US Equity Weekly Net New Cash Flow -$2.866 Billion

• AAII % Bulls 35.3 +13.2%

• AAII % Bears 30.5 -21.2%

Futures Spot Prices

• CRB Index 183.43 -.67%

• Crude Oil 47.97 -1.97%

• Reformulated Gasoline 160.48 +.10%

• Natural Gas 3.07 +3.68%

• Heating Oil 149.90 -1.25%

• Gold 1,248.40 +1.58%

• Bloomberg Base Metals Index 178.67 -.69%

• Copper 263.50 -2.30%

• US No. 1 Heavy Melt Scrap Steel 277.0 USD/Ton unch.

• China Iron Ore Spot 85.06 USD/Ton -7.88%

• Lumber 376.60 +3.97%

• UBS-Bloomberg Agriculture 1,114.60 -2.32%

Economy

• Atlanta Fed GDPNow Forecast +1.0% +10.0 basis points
• ECRI Weekly Leading Economic Index Growth Rate +9.0% -60.0 basis points
  

• Philly Fed ADS Real-Time Business Conditions Index -.1395 +2.04%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 133.35 +.23%

• Citi US Economic Surprise Index 54.10 -2.0 points

• Citi Eurozone Economic Surprise Index 69.80 +21.7 points

• Citi Emerging Markets Economic Surprise Index 45.0 -8.3 points

• Fed Fund Futures imply 86.7% chance of no change 13.3% chance of 25 basis point hike on 5/3

• US Dollar Index 99.64 -.71%
• MSCI Emerging Markets Currency Index 1,581.65 +.42%

• Euro/Yen Carry Return Index 125.15 -.99%

• Yield Curve 115.0 -3.0 basis points

• 10-Year US Treasury Yield 2.40% -10.0 basis points

• Federal Reserve's Balance Sheet $4.439 Trillion +.18%

• U.S. Sovereign Debt Credit Default Swap 24.60 -3.69%

• Illinois Municipal Debt Credit Default Swap 395.0 +1.47%

• Western Europe Sovereign Debt Credit Default Swap Index 12.30 -17.14% (new series)

• Asia Pacific Sovereign Debt Credit Default Swap Index 21.04 -17.0%
  

• Emerging Markets Sovereign Debt CDS Index 48.16 -21.78%
  

• Israel Sovereign Debt Credit Default Swap 71.09 +16.82%

• Iraq Sovereign Debt Credit Default Swap 525.32 +.02%

• Russia Sovereign Debt Credit Default Swap 175.84 +8.26%

• iBoxx Offshore RMB China Corporate High Yield Index 136.22 +.23%

• 10-Year TIPS Spread 1.99% -3.0 basis points
  

• TED Spread 39.0 -3.25 basis points

• 2-Year Swap Spread 37.0 +3.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -24.5 -4.75 basis points

• N. America Investment Grade Credit Default Swap Index 67.24 +9.39%

• America Energy Sector High-Yield Credit Default Swap Index 408.0 +6.66%

• European Financial Sector Credit Default Swap Index 89.24 +4.74%
  

• Emerging Markets Credit Default Swap Index 213.53 +4.34%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 142.50 +1.0 basis point
  

• M1 Money Supply $3.453 Trillion +2.17%

• Commercial Paper Outstanding 965.70 +.40%

• 4-Week Moving Average of Jobless Claims 240,000 +2,750

• Continuing Claims Unemployment Rate 1.4% -10.0 basis points

• Average 30-Year Mortgage Rate 4.23% -7.0 basis points

• Weekly Mortgage Applications 406.80 -2.7%

• Bloomberg Consumer Comfort 51.3 +.3 point

• Weekly Retail Sales +1.20% +10.0 basis points

• Nationwide Gas $2.29/gallon unch.

• Baltic Dry Index 1,172.0 unch.

• China (Export) Containerized Freight Index 778.15 -1.64%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 25.0 -9.09%

• Rail Freight Carloads 248,816 -3.17%

Best Performing Style

•  Large-Cap Growth -.8%

Worst Performing Style

•  Small-Cap Value -2.8%

Leading Sectors

• Gold & Silver +2.0%

• Utilities +1.4%

• Coal +1.3%

• Disk Drives +1.2%

• Restaurants +1.1%

Lagging Sectors

• Gaming -3.1% 

• Retail -3.2%

• I-Banks -4.0%

• Banks -4.7%

• Steel -7.3%

Weekly High-Volume Stock Gainers (11)

• NKTR, ESPR, FLXN, DLTH, XBIT, CTMX, FEYE, PENN, OSUR, FIVE and CTAS

Weekly High-Volume Stock Losers (35)

• TOWN, ATH, COLB, CHCO, CPF, HBAN, ALLY, MMSI, CBU, ATU, CHFC, PTC, MOFG, PPBI, APTI, AMGN, UCBI, UBSI, MG, WAL, FIBK, INTL, GBCI, SIVB, PJT, PERY, CACC, TCB, PFBC, SFBS, VRTV, FSLR, CAL, AFSI and EDIT

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Reversing Lower into Final Hour on Healthcare/Tax Reform Worries, Yen Strength, Technical Selling, Financial/Retail Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume: Light

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 13.40 +2.13%

• Euro/Yen Carry Return Index 125.05 +.13%

• Emerging Markets Currency Volatility(VXY) 9.11 -.65%

• S&P 500 Implied Correlation 49.01 +1.03%

• ISE Sentiment Index 104.0 -2.0%
  

• Total Put/Call 1.24 +9.73%

• NYSE Arms 1.49 -8.55%

Credit Investor Angst:

• North American Investment Grade CDS Index 67.93 -.77%
  

• America Energy Sector High-Yield CDS Index 408.0 +.15%

• European Financial Sector CDS Index 89.0 -1.07%

• Western Europe Sovereign Debt CDS Index 12.31 +1.40%

• Asia Pacific Sovereign Debt CDS Index 20.95 -1.60%

• Emerging Market CDS Index 212.82 -1.70%
  

• iBoxx Offshore RMB China Corporate High Yield Index 136.22 -.05%

• 2-Year Swap Spread 37.0 +.5 basis point

• TED Spread 39.0 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -24.5 +3.0 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 72.47 +.36%
• 3-Month T-Bill Yield .76% unch.
  

• Yield Curve 115.0 -2.0 basis points
  

• China Import Iron Ore Spot $85.06/Metric Tonne -1.51%

• Citi US Economic Surprise Index 54.10 -1.6 points

• Citi Eurozone Economic Surprise Index 69.80 +28.1 points

• Citi Emerging Markets Economic Surprise Index 45.0 -1.7 points

• 10-Year TIPS Spread 1.98 +1.0 basis point
  
• 50.2% chance of Fed rate hike at June 14 meeting, 57.2% chance at July 26 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -167 open in Japan 
• China A50 Futures: Indicating +29 open in China

• DAX Futures: Indicating +13 open in Germany

Portfolio: 

• Slightly Higher: On gains in my medical/tech sector longs  and index hedges

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

• Market Exposure: Moved to 25% Net Long

Bear Radar

Style Underperformer:

• Large-Cap Value +.3%

Sector Underperformers:

• 1) Steel -.6% 2) Paper -.4% 3) Energy -.3%

Stocks Falling on Unusual Volume: 

• FINL, BLCM, USCR, RARE and GME

Stocks With Unusual Put Option Activity:

• 1) THC 2) CRC 3) GME 4) MYL 5) UA

Stocks With Most Negative News Mentions:

• 1) TDG 2) TSO 3) JCI 4) DV 5) BBBY

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth +.6%

Sector Outperformers:

• 1) Hospitals +3.0% 2) Disk Drives +1.7% 3) Semis +1.5%

Stocks Rising on Unusual Volume:

• HTGM, MU, MZOR, CSTE, AYA, WDC, AAOI, BRTU, EGHT, PLSE, PZZA, SINA, DXCM, COMM, SEAS, HCLP, SKX and VRTU

Stocks With Unusual Call Option Activity:

• 1) RHT 2) ETP 3) MU 4) GME 5) CREE

Stocks With Most Positive News Mentions:

• 1) UA 2) MU 3) WDC 4) PVH 5) ADBE

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running -44.0% Below 100-Day Average
• 9 Sectors Rising, 1 Sector Declining
• 69.4% of Issues Advancing, 25.9% Declining
• 32 New 52-Week Highs, 7 New Lows
• 54.7% of Issues Above 200-day Moving Average
• Average 14-Day RSI 36.5%
• Vix 12.4 -5.3%
• Total Put/Call 1.10 -2.7%
• TRIN/Arms 1.07 -34.8%