Stocks Slightly Lower into Final Hour on US Economic Data, Technical Selling, Profit-Taking, Tech/Energy Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 14.67 -.81%

• Euro/Yen Carry Return Index 146.97 +.44%

• Emerging Markets Currency Volatility(VXY) 8.82 -.68%

• S&P 500 Implied Correlation 52.01 -2.38%

• ISE Sentiment Index 113.0 -8.13%

• Total Put/Call .67 -22.09%

• NYSE Arms 1.35 +115.16% 

Credit Investor Angst:

• North American Investment Grade CDS Index 64.75 +.03%

• European Financial Sector CDS Index 90.25 -1.89%

• Western Europe Sovereign Debt CDS Index 53.0 unch.
• Asia Pacific Sovereign Debt CDS Index 104.36 -.68%

• Emerging Market CDS Index 318.82 -2.87%

• China Blended Corporate Spread Index 355.55 -.54%
• 2-Year Swap Spread 13.75 -.25 basis point

• TED Spread 20.0 +1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -5.25 -.25 basis point

Economic Gauges:

• 3-Month T-Bill Yield .04% -1.0 basis point

• Yield Curve 242.0 -1.0 basis point

• China Import Iron Ore Spot $122.40/Metric Tonne -.41%

• Citi US Economic Surprise Index -7.70 -1.2 points

• Citi Emerging Markets Economic Surprise Index 13.60 -2.2 points

• 10-Year TIPS Spread 2.14 unch.

Overseas Futures:

• Nikkei Futures: Indicating -60 open in Japan

• DAX Futures: Indicating -26 open in Germany

Portfolio: 

• Slightly Lower: On losses in my tech sector longs and emerging markets shorts

• Disclosed Trades: None

• Market Exposure: 50% Net Long