Weekly Scoreboard*

Indices

• S&P 500 2,365.32 +.91%

• DJIA 20,669.70 +.35%

• NASDAQ 5,918.13 +1.49%

• Russell 2000 1,387.77 +2.51%

• S&P 500 High Beta 37.66 +3.31%

• Goldman 50 Most Shorted 121.53 +3.44%

• Wilshire 5000 24,531.60 +1.19%

• Russell 1000 Growth 1,144.68 +1.10%

• Russell 1000 Value 1,133.88 +1.05%

• S&P 500 Consumer Staples 563.19 +.15%

• Vanda Cyclicals-Defensives 1.3051 +1.38%
  

• Morgan Stanley Technology 1,383.09 +1.38%

• Transports 9,138.07 +2.31%

• Utilities 699.18 -.87%

• Bloomberg European Bank/Financial Services 96.69 +.91%

• MSCI Emerging Markets 39.28 -.98%

• HFRX Equity Hedge 1,185.59 +.27%

• HFRX Equity Market Neutral 1,002.82 +.07%

Sentiment/Internals

• NYSE Cumulative A/D Line 283,718 +1.04%

• Bloomberg New Highs-Lows Index 266 +141

• Bloomberg Crude Oil % Bulls 47.50 +90.0%

• CFTC Oil Net Speculative Position 418,517 -3.52%

• CFTC Oil Total Open Interest 2,194,206 -2.06%

• Total Put/Call 1.22 +1.65%

• OEX Put/Call 10.55 +1,265.0%

• ISE Sentiment 98.0 -2.97%

• 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) 8.86 -2.74%

• Emerging Markets Currency Volatility (EM-VXY) 9.02 -.99%

• Smart Money Flow Index 19,530.27 +.08%

• ICI Money Mkt Mutual Fund Assets $2.654 Trillion unch.

• ICI US Equity Weekly Net New Cash Flow -$1.040 Billion

• AAII % Bulls 30.2% -14.3%

• AAII % Bears 37.4 +22.6%

Futures Spot Prices

• CRB Index 185.61 +1.16%

• Crude Oil 50.54 +4.63%

• Reformulated Gasoline 169.26 +4.7%

• Natural Gas 3.17 +3.38%

• Heating Oil 156.74 +3.74%

• Gold 1,247.0 +.42%

• Bloomberg Base Metals Index 179.76 +.61%

• Copper 265.45 +.42%

• US No. 1 Heavy Melt Scrap Steel 277.0 USD/Ton +3.85%

• China Iron Ore Spot 80.39 USD/Ton -5.49%

• Lumber 382.80 +1.17%

• UBS-Bloomberg Agriculture 1,098.30 -1.4%

Economy

• Atlanta Fed GDPNow Forecast +.9% -10.0 basis points
• ECRI Weekly Leading Economic Index Growth Rate +7.9% -110.0 basis points
  

• Philly Fed ADS Real-Time Business Conditions Index -.0991 +9.58% 
• US Economic Policy Uncertainty Index 121.10 -19.64%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 133.77 +.31%

• Citi US Economic Surprise Index 48.0 -6.1 points

• Citi Eurozone Economic Surprise Index 54.10 -15.7 points

• Citi Emerging Markets Economic Surprise Index 34.40 -10.6 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 100.32 +.52%
• MSCI Emerging Markets Currency Index 1,586.98 +.16%

• Euro/Yen Carry Return Index 124.31 -1.02%

• Yield Curve 115.0 unch.

• 10-Year US Treasury Yield 2.40% unch.

• Federal Reserve's Balance Sheet $4.431 Trillion -.2%

• U.S. Sovereign Debt Credit Default Swap 25.50 +1.17%

• Illinois Municipal Debt Credit Default Swap 395.0 -.06%

• Western Europe Sovereign Debt Credit Default Swap Index 12.46 +1.26%

• Asia Pacific Sovereign Debt Credit Default Swap Index 21.16 +.62%
  

• Emerging Markets Sovereign Debt CDS Index 5.476 +8.95%
  

• Israel Sovereign Debt Credit Default Swap 70.08 -1.45%

• Iraq Sovereign Debt Credit Default Swap 520.32 -.97%

• Russia Sovereign Debt Credit Default Swap 166.23 -3.52%

• iBoxx Offshore RMB China Corporate High Yield Index 136.47 +.19%

• 10-Year TIPS Spread 1.97% -2.0 basis points
  

• TED Spread 39.0 unch.

• 2-Year Swap Spread 36.0 -1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -25.5 -1.0 basis point

• N. America Investment Grade Credit Default Swap Index 66.12 -1.67%

• America Energy Sector High-Yield Credit Default Swap Index 364.0 -1.02%

• European Financial Sector Credit Default Swap Index 88.66 -.8%
  

• Emerging Markets Credit Default Swap Index 213.57 +.1%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 143.50 +1.0 basis point
  

• M1 Money Supply $3.442 Trillion -.29%

• Commercial Paper Outstanding 993.90 +1.90%

• 4-Week Moving Average of Jobless Claims 254,250 +14,250

• Continuing Claims Unemployment Rate 1.5% +10.0 basis points

• Average 30-Year Mortgage Rate 4.14% -9.0 basis points

• Weekly Mortgage Applications 403.60 -.79%

• Bloomberg Consumer Comfort 49.7 -1.6 points

• Weekly Retail Sales +1.0% -20.0 basis points

• Nationwide Gas $2.31/gallon +.02/gallon

• Baltic Dry Index 1,324.0 +6.77%

• China (Export) Containerized Freight Index 778.83 -.09%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 25.0 unch.

• Rail Freight Carloads 265,574 +6.74%

Best Performing Style

•  Small-Cap Value +2.8%

Worst Performing Style

•  Large-Cap Value +1.1%

Leading Sectors

• Coal +6.5%

• Education +4.5%

• Oil Service +4.2%

• Gaming +3.5%

• Alt Energy +3.1%

Lagging Sectors

• Oil Tankers -.3% 

• Foods -.3%

• Utilities -.9%

• Networking -1.1%

• Hospitals -2.6%

Weekly High-Volume Stock Gainers (18)

• SYX, OMER, EXAR, VRTX, AXIM, CAB, GNBC, TPIC, TRNC, SONC, EVH, VRNT, DRI, PENN, XBKS, CSC, PVTB and JBSS

Weekly High-Volume Stock Losers (6)

• USCR, GIII, FLT, FDS, FINL and SAIC

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Slightly Lower into Final Hour on Less Economic Optimism, Yen Strength, Profit-Taking, Healthcare/Financial 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) 12.53 +8.58%

• Euro/Yen Carry Return Index 124.14 -.49%

• Emerging Markets Currency Volatility(VXY) 9.02 +.22%

• S&P 500 Implied Correlation 44.08 +1.29%

• ISE Sentiment Index 98.0 +18.1%
  

• Total Put/Call 1.22 +34.1%

• NYSE Arms 1.22 -4.06%

Credit Investor Angst:

• North American Investment Grade CDS Index 66.39 -1.31%
  

• America Energy Sector High-Yield CDS Index 364.0 -1.03%

• European Financial Sector CDS Index 88.71 +.65%

• Western Europe Sovereign Debt CDS Index 12.46 +.85%

• Asia Pacific Sovereign Debt CDS Index 21.15 +.21%

• Emerging Market CDS Index 213.89 +1.96%
  

• iBoxx Offshore RMB China Corporate High Yield Index 136.47 -.03%

• 2-Year Swap Spread 36.0 +.75 basis point

• TED Spread 39.0 +1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -25.5 -1.25 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 72.12 +.07%

• 3-Month T-Bill Yield .76% -1.0 basis point
  

• Yield Curve 114.0 unch.
  

• China Import Iron Ore Spot $80.39/Metric Tonne -1.7%

• Citi US Economic Surprise Index 48.0 -3.6 points

• Citi Eurozone Economic Surprise Index 54.10 -9.5 points

• Citi Emerging Markets Economic Surprise Index 34.40 -2.1 points

• 10-Year TIPS Spread 1.97 -1.0 basis point
  

• 57.5% chance of Fed rate hike at June 14 meeting, 62.9% chance at July 26 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +96 open in Japan 

• China A50 Futures: Indicating +50 open in China

• DAX Futures: Indicating +35 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 100% Net Long