Narrow Participation

Narrow Participation

Participation is an important component of stock market returns. What do I mean by participation? Simply put, it refers to how many stocks within a market index—like the S&P 500—are joining in a rally. The more stocks trending upwards, the healthier the overall...
From Hawks to Doves

From Hawks to Doves

  Central banks play a big role in financial markets. When they adjust interest rates—either cutting or raising them—it has a big impact on financial prices. In recent years, these interest rate movements have been a hot topic. So, for this week’s indicator,...
Stocking Up

Stocking Up

  “I’m all in!” According to this week’s featured indicator, that’s what investors have been saying about the stock market recently. Specifically, the indicator above measures stocks as a percentage of household financial assets, revealing how much households are...
Treasury Torque

Treasury Torque

  This week’s featured indicator is kind of like a wrench. When you turn a wrench, it creates a force called torque that helps move an object. But in this case, global treasury yields are the wrench, and the object being moved is the global bond/cash ratio. Let...
Global Growth Spurt

Global Growth Spurt

  The global economy is still running strong. That’s the message from our two indicators on display this week. The first indicator, shown above, compares global stock market performance (top clip) to the 3-month change in the Global Composite PMI (bottom clip)....
Thrust Issues

Thrust Issues

  When a bunch of stocks skyrocket at the same time, in a strong and sudden fashion, we call it a breadth thrust. It’s a good thing for the overall stock market, as it’s a sign of a healthy and robust environment. Typically, when the market is in the beginning...