Inside Markets — Slowing Growth
The US Economic Surprise Index (ESI) has dropped to -47.5 after today’s data. The US economy is clearly showing signs of slowing with markets focused on the potential upside from the start of a Fed easing cycle.
Inside Markets — Realized Volatility
Equity market pullbacks amid subdued realized volatility (VIX
Inside Markets — Slowing
We expect the Fed will cut rates later this quarter in response to slowing growth rather than for ‘policy normalization’ reasons amid falling inflation data.
Inside Markets — Decelerating Momentum
The SPX keeps its bullish bias above 5375 and needs to break below 5230 to signal a potential reversal in our opinion.
Inside Markets — Aging Bull Market
Quarter-end pension fund rebalancing officially ends tomorrow, but the dynamic was largely played out by Tuesday’s close.
Inside Markets — Consolidation
The SPX is consolidating recent gains after moving into a cluster of technical resistance levels between 5415-5490.
Inside Markets — Market Breadth
Market breadth improved over the last three sessions as concentration issues are usually addressed during month/quarter-end pension fund rebalancing efforts.
Inside Markets — Quarter-End Rebalancing
Quarter-end pension fund rebalancing began late last week and should continue for the next 2/3 days.
Inside Markets — Near-Term SPX
The SPX keeps its bullish trend at levels above ~5290 and realized volatility remains supportive-for now.
Inside Markets — Vulnerable SPX
US equities are mixed and off best levels with the S&P 500 (SPX) attempting its 32nd record close for the year, though narrow leadership makes the current bull market highly vulnerable.