Weekly Scoreboard*

S&P 500 4,131.93 -3.3%

 

Weekly Market Wrap by Edward Jones.

Indices

• DJIA 32,977.21 -2.5%

• NASDAQ 12,334.64 -3.9%

• Russell 2000 1,864.10 -4.0%

• S&P 500 High Beta 67.24 -2.3%

• Goldman 50 Most Shorted 207.99 -5.0%

• Wilshire 5000 41,679.16 -3.3%

• Russell 1000 Growth 2,453.23 -3.3%

• Russell 1000 Value 1,541.02 -3.4%

• S&P 500 Consumer Staples 810.50 -2.1%

• MSCI Cyclicals-Defensives Spread 1,172.07 -1.2%
  

• NYSE Technology 3,112.81 -2.3%

• Transports 14,865.06 -1.3%

• Utilities 999.90 -4.1%

• Bloomberg European Bank/Financial Services 71.97 -2.93%

• MSCI Emerging Markets 42.48 +.86%

• HFRX Equity Hedge 1,464.43 -.57%

• HFRX Equity Market Neutral 930.66 +.02%

Sentiment/Internals

• NYSE Cumulative A/D Line 455,207 -.97%

• Bloomberg New Highs-Lows Index -1,555 -935
  

• Crude Oil Commercial Bullish % Net Position -34.2 -1.2%

• CFTC Oil Net Speculative Position 307,697 +.96%

• CFTC Oil Total Open Interest 1,740,300 -2.4%

• Total Put/Call 1.24 -7.0%

• OEX Put/Call 1.26 -13.4%

• ISE Sentiment 88.0 +18.0 points
  

• NYSE Arms 1.05 -47.6% 
• Bloomberg Global Risk-On/Risk-Off Index 4,020.0 -432.0 points
• Bloomberg Financial Conditions Index + Bubbles 2.70 -15.0%
  

• Volatility(VIX) 32.81 +10.7%

• CBOE S&P 500 Implied Correlation Index 52.47 +9.6%

• G7 Currency Volatility (VXY) 10.0 +13.6%
  

• Emerging Markets Currency Volatility (EM-VXY) 12.07 +7.0%

• Smart Money Flow Index 13,943.88 +1.49%

• ICI Money Mkt Mutual Fund Assets $4.510 Trillion +.92%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows -23.675 Million

• AAII % Bulls 16.4 -13.2%

• AAII % Bears 59.4 +35.3%

Futures Spot Prices

• CRB Index 308.27 +1.3%

• Crude Oil 104.05 +5.0%

• Reformulated Gasoline 347.21 +6.7%

• Natural Gas 7.28 +12.1%

• Heating Oil 478.17 +37.3% 
• Newcastle Coal 299.0 (1,000/metric ton) -12.6%
  

• Gold 1,904.23 -1.2%
• Silver 22.85 -4.6%
  

• S&P GSCI Industrial Metals Index 541.60 -4.9%

• Copper 439.90 -4.0%

• US No. 1 Heavy Melt Scrap Steel 621.0 USD/Metric Tonne -1.3%

• China Iron Ore Spot 145.95 USD/Metric Tonne +.2%

• Lumber 1,034.40 +2.63%

• UBS-Bloomberg Agriculture 1,649.12 +.93%
• US Gulf NOLA Potash Spot 820.0 USD/Short Ton unch.
  

Economy

• Atlanta Fed GDPNow Forecast +1.9% +.6 percentage point
  

• ECRI Weekly Leading Economic Index Growth Rate +4.0% -.6 percentage point
  
• Bloomberg US Recession Probability Next 12 Months 25.0% unch.
  

• NY Fed Real-Time Weekly Economic Index 4.3 -2.3%

• US Economic Policy Uncertainty Index 53.6 -45.3%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 236.61 +.31%

• Citi US Economic Surprise Index 39.4 -27.7 points

• Citi Eurozone Economic Surprise Index 53.1 +22.4 points

• Citi Emerging Markets Economic Surprise Index 48.3 +4.5 points

• Fed Fund Futures imply 0.0%(unch.) chance of +0.0-25.0 basis point hike, 99.1%(+1.2 percentage points) chance of +25.0-50.0 basis point rate hike on 5/4

• US Dollar Index 103.0 +2.0%

• MSCI Emerging Markets Currency Index 1,686.71 -1.6%
  

• Bitcoin/USD 38,655.52 -2.4%

• Euro/Yen Carry Return Index 140.78 -1.4%
  

• Yield Curve(2s/10s) 18.75 -.25 basis point
  

• 10-Year US Treasury Yield 2.89% -1.0 basis point
  

• Federal Reserve's Balance Sheet $8.902 Trillion -.19%

• U.S. Sovereign Debt Credit Default Swap 17.4 +6.0%

• Illinois Municipal Debt Credit Default Swap 138.36 unch.
  

• Italian/German 10Y Yld Spread 184.0 +14.0 basis points
  

• China Sovereign Debt Credit Default Swap 75.9 +4.3%
  

• Brazil Sovereign Debt Credit Default Swap 228.26 +1.7%
  

• Israel Sovereign Debt Credit Default Swap 39.52 -.11%

• South Korea Sovereign Debt Credit Default Swap 39.93 +11.9%

• Russia Sovereign Debt Credit Default Swap 3,839.0 -68.0%

• China Corp. High-Yield Bond USD ETF(KHYB) 29.3 -.6%

• 10-Year TIPS Spread 3.0% -1.0 basis point

• TED Spread 46.0 +10.25 basis points

• 2-Year Swap Spread 33.5 +3.5 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -21.75 -1.25 basis points

• N. America Investment Grade Credit Default Swap Index 82.88 +5.5%
  

• America Energy Sector High-Yield Credit Default Swap Index 394.76 +3.98%

• European Financial Sector Credit Default Swap Index 101.42 +12.1%
  

• Emerging Markets Credit Default Swap Index 283.68 +5.2%
  

• MBS 5/10 Treasury Spread 123.0 -1.0 basis point
  
• Markit CMBX BBB-6 75.6 -1.1%

• M2 Money Supply YoY % Change 9.9 -1.1 percentage points
  

• Commercial Paper Outstanding 1,104.40 +1.6%

• 4-Week Moving Average of Jobless Claims 179,750 +1.3%
  

• Continuing Claims Unemployment Rate 1.0% unch.
  
• Kastle Back-to-Work Barometer(entries in secured buildings) 40.5 -5.4% 

• Average 30-Year Fixed Home Mortgage Rate 5.42% +13.0 basis points

• Weekly Mortgage Applications 343,100 -8.3%

• Weekly Retail Sales +13.7% -.6 percentage point
  
• OpenTable US Seated Diners % Change from 2019 +1.0% +5.8 percentage points
• Box Office Weekly Gross $144.5M -6.5%
  

• Nationwide Gas $4.16/gallon +.04/gallon

• Baltic Dry Index 2,403 +4.2%

• China (Export) Containerized Freight Index 3,109.8 -.6%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 27.5 -8.3%
• Truckstop.com Market Demand Index 111.32 +9.6%

• Rail Freight Carloads 268,967 +.15%
• TSA Total Traveler Throughput 2,258,077 +23.6%
• US Covid-19:  115 infections/100K people(last 7 days total). 7.0%(+2.0 percentage points) of peak on 1/14/22  +23/100K people from prior week
  
• US Covid-19:  New patient hospital admissions per 100K -91.2%(+1.4 percentage points) from peak 7-day avg. of 1/9/22-1/15/22
  

Best Performing Style

•  Mid-Cap Growth -1.3%

Worst Performing Style

•  Small-Cap Growth -2.8%
  

Leading Sectors

• Social Media +4.2%

• Software +1.7%
  

• Homebuilders +1.3%

• Energy +.9%

• Road & Rail +.6%
  

Lagging Sectors

• Medical Equipment -4.3%
  

• Networking -4.5%

• Telecom -4.8%

• Gold & Silver -4.8%
  

• Airlines -4.9%
  

Weekly High-Volume Stock Gainers (4)

• FRGE, MHK, DWAC and HUBG
  

Weekly High-Volume Stock Losers (38)

• BMY, WOW, ORI, CCOI, SYK, CMCSA, CRI, HCAT, RLGY, CL, X, CVNA, STAG, IONS, INTC, COLM, SSNC, ILPT, CUBE, LBRDA, EGP, BHVN, LBRDK, FR, BHVN, CINF, EBS, CHTR, ABBV, FTAI, LYLT, RILY, WU, VRSN, CENX, AMZN, VERI and MITK
  

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling Substantially into Final Hour on US Policy-Induced Stagflation Fears, Fed "Behind the Curve" Worries, European/Emerging Markets/US High-Yield Debt Angst, Consumer Discretionary/Tech Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance:  Most Sectors Declining
  

• Volume:  Around Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 30.9 +2.9%
• Bloomberg Global Risk On/Risk Off Index 4,173.0 -5.0 points

• Euro/Yen Carry Return Index 140.72 -.35%

• Emerging Markets Currency Volatility(VXY) 12.1 -.74%

• CBOE S&P 500 Implied Correlation Index 51.4 +.2% 

• ISE Sentiment Index 91.0 -1.0 point
  

• Total Put/Call 1.20 +6.2%

• NYSE Arms .91 +33.8%

Credit Investor Angst:

• North American Investment Grade CDS Index 83.0 +2.7%
  

• US Energy High-Yield OAS 375.02 -.45%

• European Financial Sector CDS Index 101.92 +2.2%

• Italian/German 10Y Yld Spread 184.0 +3.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 118.67 -1.62%
  

• Emerging Market CDS Index 284.88 +5.2%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 29.30 +.46%
• Russia Sovereign Debt Credit Default Swap 3,707.59 -83.6%
  

• 2-Year Swap Spread 33.5 +1.5 basis points
  

• TED Spread 46.0 +3.25 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -21.75 +1.0 basis point
  
• MBS  5/10 Treasury Spread  123.0 +2.0 basis points
  
• iShares CMBS ETF 48.70 -.30%
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 52.53 +.43%
• 3-Month T-Bill Yield .83% +2.0 basis points
  

• Yield Curve 18.25(2s/10s) -2.25 basis points
  

• China Iron Ore Spot 145.70 USD/Metric Tonne +.73%

• Citi US Economic Surprise Index 39.4 +2.3 points

• Citi Eurozone Economic Surprise Index 53.1 -3.6 points
  

• Citi Emerging Markets Economic Surprise Index 48.3 +2.0 points

• 10-Year TIPS Spread 2.98 unch.
  
• 0.0%(unch.) chance of no change at June 15th FOMC meeting, 0.0%(unch.) chance of no change at July 27th meeting

US Covid-19:

• 115 new infections/100K people(last 7 days total). 7.0%(unch.) of 1/14 peak +2/100K people from prior report.
  
• New Covid-19 patient hospital admissions per 100K population -91.0%(+.2 percentage point) from peak 7-day avg. of 1/9/21 - 1/15/22
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +108 open in Japan 
• China A50 Futures: Indicating -139 open in China

• DAX Futures: Indicating -61 open in Germany

Portfolio:

• Lower: On losses in my tech/medical/consumer discretionary/industrial/commodity sector longs and emerging market shorts
  

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

• Market Exposure:  Moved to 25% Net Long
  

Morning Market Internals

NYSE Composite Index:

• Volume Running +1.5% Above 100-Day Average 
• 11 Sectors Declining, 0 Sectors Rising
• 27.5% of Issues Advancing, 68.7% Declining
• 16 New 52-Week Highs, 98 New Lows
• 33.1% of Issues Above 200-day Moving Average
• Average 14-Day RSI 38.5% 
• Bloomberg Global Risk-On/Risk-Off Index 4,187.0 +10.0 points
• Russell 1000: Growth/Value 15,701 -.64%
  
• Vix 30.3 +1.1%
• Total Put/Call 1.18 +4.4%
• TRIN/Arms .73 +7.4%

Friday Watch

Evening Headlines

Bloomberg:   

• Alarmed by Russia’s Aggression, Europe Rethinks Its China Ties.
• Biden’s Ukraine Aid Risks Slowdown as GOP Balks at Covid Tie-In.
• Ukraine Latest: Biden Seeks Aid, Power to Seize Russian Wealth.  
• China’s Sudden Currency Plunge Raises Risk of a 2015-Style Panic. 
  
• Shanghai Covid Cases Rise For First Time in Six Days.   
• Yen Traders Brace for Choppy Holiday Week With Fed Poised to Act.
  
• U.S. Equity Futures Fall as Amazon, Apple Sap Mood: Markets Wrap.
• Europe Seeks to Draw Tougher Line on Russian Gas Threat.
• Oil Heads for Longest Run of Monthly Gains Since Early 2018.  
• Earnings Exacerbate Stock Market Volatility Whipped Up by Fed.  
• Coinbase Cracks Down on Front-Running of New Crypto Listings.  
• Manchin Rejects Biden’s EV Tax Credit as ‘Ludicrous’.  
• Investor Who Called Housing Top and Bottom Says It's Time to Sell.

Wall Street Journal:

• U.S. Economy Contracted on Trade, Supply Disruptions.
• Biden Seeks New Ukraine Aid as Russia Makes Slow Progress in Seizing East.
• Latest Updates: House Passes Ukraine Lend-Lease Bill Aimed at Easing Military-Gear Transfers.
• Germany Drops Opposition to Embargo on Russian Oil.
• Oil Middlemen Fueled Putin’s War Machine. Now They’re Getting Out.
• Rumors of Stagflation in First Quarter GDP. The economy surprises economists by shrinking 1.4%, which should kill a tax increase.
• Americans for Merit-Based Admissions. Poll respondents say academic achievement matters more than race. 
• Travel Is Back, but Airline and Hotel Workers Are Not.
• The Permian Basin Oil Field Is Running Out of Workers, Materials—and Cash.

Fox News:     

• NYC theater pulls plug on pro-life play countering abortion comedy, cites 'safety' concerns.
• WATCH: Social media explodes after Biden's latest 'alarming' gaffe.
• Pro-life medical experts rip media's coverage of abortion: Not following 'science' but 'political rhetoric'.

CNBC.com:

• Robinhood shares fall as retail brokerage reports shrinking revenue, fewer active users.
• Hertz CEO says rebounding business travel could tighten an already-constrained used car market.
• We went to Aldi, Trader Joe’s, Target & Walmart in 3 cities — here’s where staples cost the most.

MarketWatch:              

• Intel stock declines as chip maker doubles down on outlook despite headwinds.
  
• KLA confirms supply-chain issues for chip-equipment companies, but stock still ticks higher.
  
• Roku’s stock pops in ‘relief rally’ on rise in usage.   
• ‘Buyers of a median-price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.’ The 30-year mortgage rate dips slightly to 5.1%.

Zero Hedge:

• Is President Biden OK?
• Kansas Senate Overrides Governor’s Veto On Transgender Sports Ban Bill.
• Whistleblowers: CDC, FDA "Altered" Covid Guidance And Suppressed Findings Amid Political Pressure.
• Victor Davis Hanson: Tearing Down The Silicon Valley Wall.
• Apple Loses All After Hours Gains, Slides After Warning Supply Constraints Will Cost $4-$8 Billion.
• Federal Judge Explains Why He's Blocking Biden Admin's Termination Of Title 42.
• Moderna Asks FDA To Authorize Covid Vaccine For Children Under 6.
• Sell low buy high pain continues.
• Newsquawk Asia-Pac Market Open - US stocks notched firm gains despite US GDP contraction.
• 'Libs Of TikTok' WaPo-Dox Backfires After Account Gains 500,000 New Followers In One Week.
• The Defense Production Act Cannot Increase Critical Mineral Production Without Streamlining Project Permitting.
• After Backlash, Google Turns Off 'Newspeak' Correction Tool (For Now).
• Newsquawk US Market Wrap: DXY prints 20yr highs, NDX surges, and first US GDP contraction post-2020 brushed aside.
• Amazon Crashes After Reporting Catastrophic Guidance, Worst Revenue Growth In Decade.
• "WTF Was That!" - Stocks Explode Higher As US Economy Heads Into Recession.

Newsmax:

• Rep. Greene Plans Twitter-Ban Appeal, Urges Musk to Meet With Suspended Users.  
• Russia Warns of Retaliation Against US for 'Idiotic' Sanctions.

TheGatewayPundit.com: 

• Psaki Refuses to Comment on the Far-Left Activist Overseeing Biden Regime’s New ‘Disinformation Governance Board’ (VIDEO).
• Biden Brags, “I Think We’re… Seeing Enormous Growth in the Country” – After Economy Shrinks by 1.4% in First Quarter (VIDEO).
• Dr. Fauci Walks Back Covid Comments, Says Pandemic Not Over in US After White House Sets Him Straight.
• Biden’s Military Is “Using the COVID-19 Vaccine Mandate to “Intentionally Purge” Religious Service Members”.
• WATCH: Rep. Marjorie Taylor Greene Tells Jim Acosta to His Face, ‘You Know Why People Don’t Like You? Because You’re a Liar’.
• “2000 Mules” Is Taking on a Life of Its Own, And It Hasn’t Even Been Released Yet.
• Elon Musk Tweets How He Didn’t Get More Conservative – Libs Got More Radical.
• Too Little, Too Late? Georgia Governor Kemp Signs Bill to Empower Investigations Into Voter Fraud, Election Crimes.
• A 15-Year-Old Chicago Boy Committed Suicide After Bullies Relentlessly Targeted Him For Being ‘Unvaccinated,’ According to Lawsuit.

The Epoch Times:

• Chinese Regime Seeks to Control Global EV Supply Chain, Leaving US Vulnerable: Experts.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 807,241 Reports(+4,073 from prior week) Through April 15th, 2022.
  

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs).

Night Trading 

• Asian equity indices are unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 121.0 -1.75 basis points. 

• China Sovereign CDS  77.5 -2.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 52.31 +.01%. 
• Bloomberg Global Risk-On/Risk Off Index 4,176.0 -3.0 points.
• Volatility Index(VIX) futures 29.3 +.2%.
• Euro Stoxx 50 futures n/a.

• S&P 500 futures -.6%.

• NASDAQ 100 futures -1.3%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ABBV)/3.14
• (AB)/.84
• (AZN)/1.68
• (B)/.40
• (BLMN)/.74
• (BMY)/1.89
• (CRI)/1.39
• (CBOE)/1.68
• (CHTR)/6.66
• (CVX)/3.44
• (CL)/.75
• (XOM)/2.23
• (HON)/1.86
• (LYB)/3.55
• (MGA)/1.10
• (NWL)/.27
• (PSX)/1.27
• (WY)/1.23
  

After the Close:

• None of note
  

Economic Releases

8:30 am EST

• The Employment Cost Index for 1Q is estimated to rise +1.1% versus a +1.0% gain in 4Q.
• Personal Income for March is estimated to rise +.4% versus a +.5% gain in February.
• Personal Spending for March is estimated to rise +.6% versus a +.2% gain in February.
• The PCE Core MoM for March is estimated to rise +.3% versus a +.4% gain in February.
  

9:45 am EST

• The MNI Chicago PMI for April is estimated to fall to 62.0 versus 62.9 in March.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The German GDP report could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are modestly higher, boosted by technology and commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.

Stocks Surging into Close on Earnings Optimism, Technical Buying, Short-Covering, Tech/Energy Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Higher
  

• Sector Performance:  Almost Every Sector Rising
  

• Volume:  Above Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 28.2 -10.7%
• Bloomberg Global Risk On/Risk Off Index 4,314.0 +533.0 points

• Euro/Yen Carry Return Index 141.45 +1.5%

• Emerging Markets Currency Volatility(VXY) 12.3 +5.2%

• CBOE S&P 500 Implied Correlation Index 47.2 -4.8% 

• ISE Sentiment Index 94.0 +3.0 points
  

• Total Put/Call 1.17 +3.5%

• NYSE Arms .56 -22.2%

Credit Investor Angst:

• North American Investment Grade CDS Index 80.1 -2.5%
  

• US Energy High-Yield OAS 374.17 -.89%

• European Financial Sector CDS Index 99.72 +1.95%

• Italian/German 10Y Yld Spread 181.0 +4.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 121.11 -1.13%
  

• Emerging Market CDS Index 270.20 -.93%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 29.13 -.05%
• Russia Sovereign Debt Credit Default Swap 22,616.70 +18.6%
  

• 2-Year Swap Spread 32.0 +3.25 basis points
  

• TED Spread 42.75 +3.0 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -22.75 +.75 basis point
  
• MBS  5/10 Treasury Spread  121.0 -1.0 basis point
  
• iShares CMBS ETF 48.74 -.32%
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 52.32 -.10%
• 3-Month T-Bill Yield .81% -1.0 basis point
  

• Yield Curve 20.5(2s/10s) -3.25 basis points
  

• China Iron Ore Spot 141.65 USD/Metric Tonne +.1%

• Citi US Economic Surprise Index 37.1 -25.1 points

• Citi Eurozone Economic Surprise Index 56.7 -1.3 points
  

• Citi Emerging Markets Economic Surprise Index 46.3 +4.9 points

• 10-Year TIPS Spread 2.98 +9.0 basis points
  
• 0.0%(unch.) chance of no change at June 15th FOMC meeting, 0.0%(unch.) chance of no change at July 27th meeting

US Covid-19:

• 113 new infections/100K people(last 7 days total). 7.0%(+1.0 percertage point) of 1/14 peak +5/100K people from prior report.
  
• New Covid-19 patient hospital admissions per 100K population -91.2%(+.3 percentage point) from peak 7-day avg. of 1/9/21 - 1/15/22
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +560 open in Japan 
• China A50 Futures: Indicating -7 open in China

• DAX Futures: Indicating +155 open in Germany

Portfolio:

• Higher: On gains in my tech/medical/consumer discretionary/industrial/commodity sector longs
  

• Disclosed Trades:  Covered some my (IWM)/(QQQ) hedges
  

• Market Exposure:  Moved to 75% Net Long