Weekly Scoreboard*

Indices

• S&P 500 2,429.45 -.21%

• DJIA 21,361.30 +.41%

• NASDAQ 6,154.74 -1.04%

• Russell 2000 1,402.69 -1.55%

• S&P 500 High Beta 36.70 -1.37%

• Goldman 50 Most Shorted 129.78 -.86%

• Wilshire 5000 25,149.0 -.24%

• Russell 1000 Growth 1,195.89 -.41%

• Russell 1000 Value 1,141.85 -.02%

• S&P 500 Consumer Staples 576.42 -.97%

• Vanda Cyclicals-Defensives 1.3189 -.40%
  

• Morgan Stanley Technology 1,465.12 -.84%

• Transports 9,392.83 +.70%

• Utilities 737.30 +1.61%

• Bloomberg European Bank/Financial Services 99.93 +2.12%

• MSCI Emerging Markets 41.13 -1.45%

• HFRX Equity Hedge 1,194.62 -.17%

• HFRX Equity Market Neutral 991.52 -.34%

Sentiment/Internals

• NYSE Cumulative A/D Line 292,380 +.34%

• Bloomberg New Highs-Lows Index -41 -377

• Bloomberg Crude Oil % Bulls 48.72 +21.8%

• CFTC Oil Net Speculative Position 373,755 +.21%

• CFTC Oil Total Open Interest 2,198,081 -.59%

• Total Put/Call 1.04 -5.66%

• OEX Put/Call 2.12 +432.1%

• ISE Sentiment 54.0 -45.78%

• NYSE Arms 1.33 +40.96%

• Volatility(VIX) 10.83 +3.46%

• S&P 500 Implied Correlation 38.29 -.26%

• G7 Currency Volatility (VXY) 7.26 +.14%

• Emerging Markets Currency Volatility (EM-VXY) 7.63 -2.04%

• Smart Money Flow Index 19,833.12 +.93%

• ICI Money Mkt Mutual Fund Assets $2.659 Trillion +.21%

• ICI US Equity Weekly Net New Cash Flow -$3.168 Billion

• AAII % Bulls 35.4 +31.6%

• AAII % Bears 29.5 -6.4%

Futures Spot Prices

• CRB Index 172.82 -2.24%

• Crude Oil 44.67 -2.77%

• Reformulated Gasoline 145.30 -3.67%

• Natural Gas 3.04 unch.

• Heating Oil 142.55 -.73%

• Gold 1,255.80 -.91%

• Bloomberg Base Metals Index 170.41 -.9%

• Copper 256.45 -3.1%

• US No. 1 Heavy Melt Scrap Steel 266.67 USD/Ton unch.

• China Iron Ore Spot 54.41 USD/Ton -5.85%

• Lumber 364.40 -.30%

• UBS-Bloomberg Agriculture 1,053.43  -1.28%

Economy

• Atlanta Fed GDPNow Forecast +3.4 unch.
• ECRI Weekly Leading Economic Index Growth Rate +4.2% -40.0 basis points
  

• Philly Fed ADS Real-Time Business Conditions Index .0819 +1.74% 
• US Economic Policy Uncertainty Index 67.25 -47.58%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 137.32 +.20%

• Citi US Economic Surprise Index -43.40 -2.5 points

• Citi Eurozone Economic Surprise Index 39.10 -4.5 points

• Citi Emerging Markets Economic Surprise Index 6.90 -3.8 points

• Fed Fund Futures imply 0.0% chance of no change 100.0% chance of 25 basis point hike on 6/14

• US Dollar Index 97.19 -.16%
• MSCI Emerging Markets Currency Index 1,603.23 -.08%

• Euro/Yen Carry Return Index 129.48 +.36%

• Yield Curve 83.0 -4.0 basis points

• 10-Year US Treasury Yield 2.15% -6.0 basis points

• Federal Reserve's Balance Sheet $4.423 Trillion +.07%

• U.S. Sovereign Debt Credit Default Swap 22.75 +.6%

• Illinois Municipal Debt Credit Default Swap 392.0 -.07%

• Western Europe Sovereign Debt Credit Default Swap Index 6.65 -11.75%

• Asia Pacific Sovereign Debt Credit Default Swap Index 17.25 -3.54%
  

• Emerging Markets Sovereign Debt CDS Index 50.75 -1.12%
  

• Israel Sovereign Debt Credit Default Swap 65.1 -6.52%

• South Korea Sovereign Debt Credit Default Swap 50.93 -2.89%

• Russia Sovereign Debt Credit Default Swap 163.5 +3.77%

• iBoxx Offshore RMB China Corporate High Yield Index 138.86 -.14%

• 10-Year TIPS Spread 1.68% -13.0 basis points

• TED Spread 27.25 +4.5 basis points

• 2-Year Swap Spread 21.0 -.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -31.5 +2.25 basis points

• N. America Investment Grade Credit Default Swap Index 61.02 unch.

• America Energy Sector High-Yield Credit Default Swap Index 427.0 +1.79%

• European Financial Sector Credit Default Swap Index 61.50 -5.81%
  

• Emerging Markets Credit Default Swap Index 195.71 +.47%
  

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

• M1 Money Supply $3.521 Trillion -.51%

• Commercial Paper Outstanding 996.90 +.3%

• 4-Week Moving Average of Jobless Claims 242,000 +4,000

• Continuing Claims Unemployment Rate 1.4% unch.
  

• Average 30-Year Mortgage Rate 3.89% -5.0 basis points

• Weekly Mortgage Applications 430.60 +7.06%

• Bloomberg Consumer Comfort 49.90 -1.3 points

• Weekly Retail Sales +2.5% +60.0 basis points

• Nationwide Gas $2.35/gallon -.03/gallon

• Baltic Dry Index 850.0 -7.41%

• China (Export) Containerized Freight Index 841.59 +.18%

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

• Rail Freight Carloads 247,339 -12.15%

Best Performing Style

•  Large-Cap Value unch.

Worst Performing Style

•  Small-Cap Value -1.7%

Leading Sectors

• Gaming +2.6%

• Hospitals +2.0%

• Utilities +1.6%

• Homebuilders +1.3%

• Papers +1.3%

Lagging Sectors

• Foods -2.6% 

• Retail -3.4%

• Coal -5.4%

• Gold & Silver -5.6%

• Steel -6.8%

Weekly High-Volume Stock Gainers (14)

• OMER, EPZM, SELB, CMCT, GDEN, DFT, HRB, DSKE, AVHI, CLPR, BKD, DFIN, WNEB and CARO

Weekly High-Volume Stock Losers (16)

• KW, YHOO, MPAA, GNMK, MAT, MPO, PDFS, CAKE, HNI, AEIS, HUBS, KMG, SYNA, KR, CLDR and CHRS

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, Earnings Outlook Worries, Technical Selling, Retail/Food Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Mixed
  

• Volume: Heavy

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 10.75 -1.38%

• Euro/Yen Carry Return Index 129.49 +.35%

• Emerging Markets Currency Volatility(VXY) 7.63 -.52%

• S&P 500 Implied Correlation 38.13 +5.01%

• ISE Sentiment Index 52.0 -17.46%
  

• Total Put/Call 1.04 +7.22%

• NYSE Arms 1.42 +5.26%

Credit Investor Angst:

• North American Investment Grade CDS Index 61.28 +2.44%
  

• America Energy Sector High-Yield CDS Index 427.0 +.99%

• European Financial Sector CDS Index 61.48 -.44%

• Western Europe Sovereign Debt CDS Index 6.65 -4.18%

• Asia Pacific Sovereign Debt CDS Index 17.25 +.58%

• Emerging Market CDS Index 196.99 +1.68%
  

• iBoxx Offshore RMB China Corporate High Yield Index 139.16 unch.

• 2-Year Swap Spread 21.0 +1.75 basis points

• TED Spread 27.25 +2.75 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -31.25 +1.0 basis point

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 73.18 +.15%
• 3-Month T-Bill Yield 1.0% unch.
  

• Yield Curve 83.5 +2.5 basis points

• China Import Iron Ore Spot $55.23/Metric Tonne unch.

• Citi US Economic Surprise Index -78.60 -16.9 points

• Citi Eurozone Economic Surprise Index 30.40 -1.1 points

• Citi Emerging Markets Economic Surprise Index 9.6 +.6 point

• 10-Year TIPS Spread 1.68 -1.0 basis point
  
• 24.3% chance of Fed rate hike at Sept. 20 meeting, 27.5% chance at Nov. 1 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +22 open in Japan 
• China A50 Futures: Indicating +1 open in China

• DAX Futures: Indicating -12 open in Germany

Portfolio: 

• Slightly Lower: On losses in my retail/medical sector longs 

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

• Market Exposure: Moved to 75% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Value -.5%

Sector Underperformers:

• 1) Retail -1.7% 2) Foods -1.7% 3) Tobacco -1.7%

Stocks Falling on Unusual Volume: 

• UNFI, BAH, COST, KR, SFM, TGT, WMT, USFD, WBA, EPZM, TECK, BGS and CVS

Stocks With Unusual Put Option Activity:

• 1) WFM 2) ALLY 3) NLY 4) CVS 5) UAA

Stocks With Most Negative News Mentions:

• 1) BAH 2) KR 3) LAD 4) SVU 5) CALM

Charts:

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