Weekly Scoreboard*

Indices

• S&P 500 2,100.80 +.33%

• DJIA 17,822.0 -.16%

• NASDAQ 4,950.39 +.78%

• Russell 2000 1,165.27 +2.0%

• S&P 500 High Beta 30.51 +.17%

• Goldman 50 Most Shorted 103.99 +2.13% 

• Wilshire 5000 21,687.0 +.62%

• Russell 1000 Growth 1,013.30 +.59%

• Russell 1000 Value 1,006.03 +.25%

• S&P 500 Consumer Staples 547.55 +1.09%

• Solactive US Cyclical 133.89 +.26%

• Morgan Stanley Technology 1,083.76 +.4%

• Transports 7,732.41 -.19%

• Utilities 674.83 +3.0%

• Bloomberg European Bank/Financial Services 79.14 -4.97%

• MSCI Emerging Markets 33.67 +2.09%

• HFRX Equity Hedge 1,125.60 +.41%

• HFRX Equity Market Neutral 1,001.40 +.14%

Sentiment/Internals

• NYSE Cumulative A/D Line 253,867 +1.24%

• Bloomberg New Highs-Lows Index 83 +41

• Bloomberg Crude Oil % Bulls 6.7 -82.2%

• CFTC Oil Net Speculative Position 348,142 -5.6%

• CFTC Oil Total Open Interest 1,657,419 -2.45%

• Total Put/Call .86 -3.33%

• OEX Put/Call .78 -1.12%

• ISE Sentiment 83.0 -4.4%

• NYSE Arms 1.14 -10.07%

• Volatility(VIX) 13.71 +2.01%

• S&P 500 Implied Correlation 52.76 -.19%

• G7 Currency Volatility (VXY) 10.30 +5.1%

• Emerging Markets Currency Volatility (EM-VXY) 10.11 -1.84%

• Smart Money Flow Index 19,295.94 +.92%

• ICI Money Mkt Mutual Fund Assets $2.733 Trillion n/a

• ICI US Equity Weekly Net New Cash Flow -$5.241 Billion

• AAII % Bulls 30.2 +70.0%

• AAII % Bears 29.0 -1.2%

Futures Spot Prices

• CRB Index 188.43 +1.53%

• Crude Oil 48.48 -1.94%

• Reformulated Gasoline 160.53 -1.44%

• Natural Gas 2.40 +24.83%

• Heating Oil 148.45 -.93%

• Gold 1,243.70 +1.94%

• Bloomberg Base Metals Index 141.91 +.35%

• Copper 211.20 +.52%

• US No. 1 Heavy Melt Scrap Steel 246.67 USD/Ton unch.

• China Iron Ore Spot 50.08 USD/Ton -2.09%

• Lumber 301.90 -2.90%

• UBS-Bloomberg Agriculture 1,212.48 +3.3%

Economy

• Atlanta Fed GDPNow Forecast +2.5% -40.0 basis points
• ECRI Weekly Leading Economic Index Growth Rate +5.9% -20.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index -.2411 +3.29%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 124.76 +.22%

• Citi US Economic Surprise Index -25.40 -2.6 points

• Citi Eurozone Economic Surprise Index 1.80 -3.5 points

• Citi Emerging Markets Economic Surprise Index 7.40 +7.4 points

• Fed Fund Futures imply 96.0% chance of no change, 4.0% chance of 25 basis point hike on 6/15

• US Dollar Index 94.03 -1.65%
• MSCI Emerging Markets Currency Index 1,482.98 -.26%

• Euro/Yen Carry Return Index 126.32 -1.39%

• Yield Curve 93.0 -1.0 basis point

• 10-Year US Treasury Yield 1.70% -15.0 basis points

• Federal Reserve's Balance Sheet $4.422 Trillion n/a

• U.S. Sovereign Debt Credit Default Swap 20.67 -6.5%

• Illinois Municipal Debt Credit Default Swap 349.0 -.92%

• Western Europe Sovereign Debt Credit Default Swap Index 26.10 +1.99%

• Asia Pacific Sovereign Debt Credit Default Swap Index 52.77 +.76%
  

• Emerging Markets Sovereign Debt CDS Index 134.61 -2.8%
  

• Israel Sovereign Debt Credit Default Swap 74.50 unch.

• Iraq Sovereign Debt Credit Default Swap 909.89 -.04% 

• Russia Sovereign Debt Credit Default Swap 250.31 -4.3%

• iBoxx Offshore RMB China Corporate High Yield Index 128.72 +.05%

• 10-Year TIPS Spread 1.55% -7.0 basis points

• TED Spread 40.75 +3.25 basis points

• 2-Year Swap Spread 15.0 +1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -27.75 +1.75 basis points

• N. America Investment Grade Credit Default Swap Index 77.70 +1.66%

• America Energy Sector High-Yield Credit Default Swap Index 881.0 -1.20%

• European Financial Sector Credit Default Swap Index 95.96 +8.43%
  

• Emerging Markets Credit Default Swap Index 291.93 -2.15%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 142.50 unch.
  

• M1 Money Supply $3.257 Trillion +.40%

• Commercial Paper Outstanding 1,066.30 -1.2%

• 4-Week Moving Average of Jobless Claims 276,750 -1,750

• Continuing Claims Unemployment Rate 1.6% unch.

• Average 30-Year Mortgage Rate 3.66% +2.0 basis points

• Weekly Mortgage Applications 476.10 -4.11%

• Bloomberg Consumer Comfort 43.2 +1.2 point

• Weekly Retail Sales +.7% unch.

• Nationwide Gas $2.34/gallon +.02/gallon

• Baltic Dry Index 606.0 +.83%

• China (Export) Containerized Freight Index 658.43 -1.05%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 35.0 +16.7%

• Rail Freight Carloads 267,036 +1.65%

Best Performing Style

• Small-Cap Value +1.1%

Worst Performing Style

• Large-Cap Value +.2%

Leading Sectors

• Gold & Silver +6.4%

• Gaming +3.6%

• Steel +3.6%

• Biotech +3.1%

• HMOs +2.8%

Lagging Sectors

• Restaurants -.8% 

• Education -1.0%

• Energy -1.3%

• Banks -1.5%

• Oil Service -1.7%

Weekly High-Volume Stock Gainers (28)

• CPXX, DWRE, SQI, RLYP, ELRC, XBIT, ICPT, MKTO, NERV, MCFT, CST, BIG, VEEV, CAL, TISI, FEIC, CBRL, IONS, BRS, SPTN, LGF, VIA, HELE, WR, CSRA, GWRE, BBSI, and RP

Weekly High-Volume Stock Losers (12)

• PANW, FGL, MED, MOV, PSTG, BOX, SAFM, ANF, GXP, TEX, AMWD and PDVW

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Lower into Afternoon on Weak US Jobs Report, Yen Strength, Oil Decline, Financial/Biotech Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 13.81 -2.75%

• Euro/Yen Carry Return Index 126.85 -.96%

• Emerging Markets Currency Volatility(VXY) 10.25 -1.44%

• S&P 500 Implied Correlation 52.42 -.83%

• ISE Sentiment Index 70.0 -21.35%

• Total Put/Call .85 -6.59%

• NYSE Arms 1.01 -13.27% 

Credit Investor Angst:

• North American Investment Grade CDS Index 77.51 +.92%
  

• America Energy Sector High-Yield CDS Index 880.0 -2.43%

• European Financial Sector CDS Index 95.64 +1.28%

• Western Europe Sovereign Debt CDS Index 26.08 +.68%

• Asia Pacific Sovereign Debt CDS Index 52.96 +.21%

• Emerging Market CDS Index 292.14 -1.80%
  

• iBoxx Offshore RMB China Corporate High Yield Index 128.72 -.12%

• 2-Year Swap Spread 15.0 -.25 basis point
  

• TED Spread 40.75 +1.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -27.75 +6.25 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 71.51 +1.32%
• 3-Month T-Bill Yield .28% +1.0 basis point

• Yield Curve 93.0 +1.0 basis point
  

• China Import Iron Ore Spot $50.08/Metric Tonne +3.94%

• Citi US Economic Surprise Index -25.40 -9.1 points

• Citi Eurozone Economic Surprise Index 1.80 -.7 point

• Citi Emerging Markets Economic Surprise Index 7.4 +.2 point

• 10-Year TIPS Spread 1.56% -2.0 basis points
  
• 30.9% chance of Fed rate hike at July 27 meeting, 43.3% chance at September 21 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -302 open in Japan 
• China A50 Futures: Indicating -230 open in China

• DAX Futures: Indicating +4 open in Germany

Portfolio: 

• Lower: On losses in my biotech/retail/tech sector longs and emerging markets shorts
  

• Disclosed Trades: None

• Market Exposure: 50% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Growth -1.2%

Sector Underperformers:

• 1) Banks -3.2% 2) I-Banks -2.9% 3) Biotech -1.6%

Stocks Falling on Unusual Volume:

• ADPT, ZUMZ, CLNY, NRF, CST, LILA, NSAM, LILAK, SBNY, MMYT, FNBC, FMER, EWBC, DGLD, DISH, C, NERV, FGP, BTO, ICLR, IONS, JOY, FMI, VMI, ETFC, GS, GBCI, FMI, PRU, RJF, FGP, WAL, ZION, HBAN, NTRS, WBS, ASGN, BAC, EZPM, SCHW, MFRM and SIVB

Stocks With Unusual Put Option Activity:

• 1) XLF 2) FSLR 3) GS 4) VLO 5) COF

Stocks With Most Negative News Mentions:

• 1) JASO 2) TSL 3) ICLR 4) C 5) PCAR

Charts:

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

Bull Radar

Style Outperformer:

• Large-Cap Growth -.6%

Sector Outperformers:

• 1) Gold & Silver +7.7% 2) Steel +2.0% 3) Utilities +1.5%

Stocks Rising on Unusual Volume:

• TLN, AMBA, AVGO, AG, USLV, ABX, BVN, TCK, AEM, PAAS, SSRI, SLW, TAHO, NEM and RGLD

Stocks With Unusual Call Option Activity:

• 1) PAA 2) EPD 3) CST 4) SWHC 5) WWAV

Stocks With Most Positive News Mentions:

• 1) GPS 2) BRCM 3) AMBA 4) WFT 5) AMWD

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running +6.1% Above 100-Day Average
• 5 Sectors Rising, 5 Sectors Declining
• 38.4% of Issues Advancing, 58.5% Declining
• 145 New 52-Week Highs, 7 New Lows
• 59.0% of Issues Above 200-day Moving Average
• Average 14-Day RSI 45.5%
• Vix 14.4 +5.7%
• Total Put/Call .84 -7.7%
• TRIN/Arms 1.0 -11.4%