1. 2017 vs. 1999

The market is fundamentally expensive but it’s not 1999 yet.

https://www.bespokepremium.com/think-big-blog/

See my blog post on comparisons to 1999

This long-running hot streak in the tech sector has led to forecasts of another 1999 bubble. It has sparked future doom from a host of soothsayers, who have been waiting for their gloomy predictions to come true since the global financial crisis ended in 2009. Since the crisis, today’s Wall Street Masters of the Universe are not the traders popularized in Michael Lewis’s original book “Liars Poker.” Nor are they the superstar investment bankers of the Internet boom. Instead, they’re a bunch of unknown hedge fund managers that predicted a crash in 2008 and made a fortune in its aftermath.  Since that event, headline grabbers on Wall Street have shifted from tireless cheerleaders of the rising bull market to pessimists predicting the next crash.

https://matttopley.com/category/quarterly/

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1.Interesting Charts ….Nasdaq Percentage of Stocks Above 50day and 200day Fell Hard at End of July.

Naz Above 50day

Naz above 200day

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1.Emerging Markets-A Great Look at the Cycle.

From Tim Hussar at Wharton Hill Advisors.

https://www.whartonhillia.com/viewpoints/2017/8/4/under-the-hood-august-2017

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Mick is Back Tonight.

Who will be left standing?

1.The One Divergence that Stands Out….Dow Transports Showing Significant Lag in 2017.

 Transports Rolled Over in July as S&P and Dow Jones Make New Highs.

Dow Jones +11.79% vs. Dow Transports +2.5%

www.yahoofinance.com

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 1.Bloomberg IPO Index Remains Sluggish

Aug 3, 2017

One index that hasn’t been participating in the market’s rally this year is the Bloomberg IPO Index, which is made up of companies that have IPOd within the past year.  We just wanted to show you a quick chart to highlight the weakness for IPO stock performance.

Below is a chart comparing the performance of the Bloomberg IPO Index to the Nasdaq 100 and the Dow Jones Industrial Average since the bull market began back in March 2009.  As shown, the Tech-heavy Nasdaq 100 is up by far the most at +467%, which might make you assume that IPOs would also be doing pretty well.  But even the Dow 30 has outperformed the IPO Index and by quite a bit at that!  Since the bull market began, the Dow is up 236% on a simple price return basis, while the IPO index brings up the rear in this group with a gain of just 163%.  Over the past year, the IPO index has basically traded completely sideways.

https://www.bespokepremium.com/think-big-blog/bloomberg-ipo-index-remains-sluggish/

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