What? A Glimpse of Light?
TLDR: But soft, what light through yonder window breaks? Is that Juliet? No, it’s an economic recovery!
In this column we expressed a consistently bearish bias - and for good reason we might say: weak eps, expensive valuations, QT and more.
So when we see data that goes against this narrative, we’re very keen to dig deeper into it. And recently we’ve noted quite a barrage of supportive data.
Citi Economic Surprises is on a tear (pictured smiling in the image above). US ISM Manufacturing New Orders recovered to 47. And US ISM Services New Orders rose back to 62.60.
Oh la la! Is that a recovery?
That might mitigate any worries about sharp selloffs in the short term, also helped by, you know, $420bn of QE fresh off the oven.
Keep an eye on the earnings of S&P 500.
What stocks are doing well today?
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TOGGLE Leading Indicators: TLI the lone bullish indicator
TLI remains in the bullish camp, whilst all other indicators remain in the mid-range. Where from here? In all cases when TLI was bullish the market found a bottom - at least until another indicator came to invert the trend.
- 🟦 TLI
- ⬜ Rangefinder Index
- ⬜ Peak Probability Indicator
- ⬜ Trough Probability Indicator
- ⬜ Candle Breadth
- ⬜ Market Phase Shift Indicator
Learn more about the Leading Indicators in the Learn Center!
Upcoming Earnings: Manchester United (MANU) releases tomorrow
Click here to test what to expect when MANU releases earnings tomorrow.
Discover how other companies could react post earnings with the help of TOGGLE's WhatIF Earnings tool.
Asset Spotlight: Amazon (AMZN) trading volume at a low
TOGGLE analyzed 61 similar occasions in the past where volume analysis indicators for Amazon are falling and historically this led to a median increase in the stock price over the following 6M. Read full insight!
