1.Where we Stand on Inaguration Day?
https://am.jpmorgan.com/blob-gim/1383280028969/83456/jp-littlebook.pdf
Daily Top Ten – January 18, 2017
1.The Most Hated Bull Market Ever Continues….January Redemptions in Domestic Equities.
Euphoria? Okay, sure. Maybe in word, but not in deed. Here’s Oppenheimer’s Ari Wald highlighting a divergence that merits attention…
While newsletter surveys are signaling optimism, recent fund flow data suggests that investor skepticism still lingers. For instance, ICI estimated a $2B net outflow from domestic equity ETFs and mutual funds for the week of Jan 6 which marks the first redemption since the US election. What investors are doing is often more important than what they’re saying, and we therefore view this lack of euphoria as a positive for the overall equity cycle.
From Josh Brown Blog
http://thereformedbroker.com/2017/01/17/chart-o-the-day-bullish-but-selling/
Daily Top Ten – January 17, 2017
1.Speculators are Massively Short Stock Market Volatility and Short Treasuries….Contra-Indicator???
Equity Markets: Risk appetite in the equity markets remains near multi-year highs. The chart below shows speculative accounts massively short VIX futures.
Rates: Short Treasuries is increasingly becoming a crowded trade. The chart below shows speculative accounts piling into the short 10yr note futures position.
Daily Top Ten – January 16, 2017
1.Junk Bond ETF Makes New Highs in 2017…$434 Billion of maturing junk paper must be refinanced in next 2 years.
50day thru 200 day to upside on Weekly Chart
Daily Top Ten – January 13, 2017
1.Measuring Europe Thru German Leadership.
German economic growth accelerated more than analysts forecast last year to its fastest pace since 2011,
as falling unemployment and record-low interest rates boosted spending. According to the Federal Statistics Office, GDP growth rose 1.9%, after a gain of 1.7% the previous year. Germany is the first of the world’s biggest developed economies to provide preliminary GDP data for 2016.
www.seekingalpha.com