The Bespoke Report — The Storm Before the Storm
The S&P 500 finished the last full week before Election Day on a nine-day losing streak. Talk about election anxiety. There have only been 12 prior nine-day losing streaks for the S&P 500 throughout its history going back to 1928, and the last one was 36 years ago in 1980! If you’d like to see how the market has traded in the days and weeks following these epic losing streaks, we cover it and much more in this week’s Bespoke Report newsletter, which we just sent to Bespoke subscribers. You can try out Bespoke’s subscription platform and read this week’s Bespoke Report by starting a 14-day free trial. Below is a look at recent asset class performance using our key ETF matrix.
Have a great weekend!
The Closer 11/4/16 – End of Week Charts
Looking for deeper insight on global markets and economics? In tonight’s Closer sent to Bespoke clients, we recap weekly price action in major asset classes, update economic surprise index data for major economies, chart the weekly Commitment of Traders report from the CFTC, and provide our normal nightly update on ETF performance, volume and price movers, and the Bespoke Market Timing Model.
The Closer is one of our most popular reports, and you can sign up for a trial below to see it and everything else Bespoke publishes free for the next two weeks!
Click here to start your no-obligation free Bespoke research trial now!
Quickview Chart Book: 11/4/16
Bespoke Earnings Estimate Revisions: 11/4/16
Analysts Ditching the Consumer Discretionary Sector En Masse
When it comes to the Consumer Discretionary sector, we all know the sector is facing a number of headwinds. For retailers in the sector specifically, Amazon.com (AMZN) and other online retailers are just killing their bricks and mortar peers. Not surprisingly, there has been a steady flow of negative revisions coming from the analyst community. After hitting its highest level in nearly three years earlier this year, the spread between the number of upward and downward revisions for companies in the sector just broke down to its most negative level since March 2009!
ETF Trends: International – 11/4/16
Metals continue to dominate the best performers list with gold leading the way. Pound sterling has been the strongest major currency in the world over the last few days, with yen and Swiss franc also gaining. Broadly speaking, the dollar has been weak as the EUR, AUD, and SEK all sit on top of the best performers list as well, along with UDN. On the other side of the slate, Energy has crashed lower over the last few sessions along with MLPs and Latin American.
Bespoke provides Bespoke Premium and Bespoke Institutional members with a daily ETF Trends report that highlights proprietary trend and timing scores for more than 200 widely followed ETFs across all asset classes. If you’re an ETF investor, this daily report is perfect. Sign up below to access today’s ETF Trends report.
See Bespoke’s full daily ETF Trends report by starting a no-obligation free trial to our premium research. Click here to sign up with just your name and email address.
The Closer 11/3/16 – Productivity, Factory Orders Bottom; Continuing Claims Not Yet
Looking for deeper insight on global markets and economics? In tonight’s Closer sent to Bespoke Institutional clients, we take a look at continuing claims, which made new cycle lows this week. We also review releases of preliminary Q3 productivity and costs data as well as the September factory orders report.
The Closer is one of our most popular reports, and you can see it and everything else Bespoke publishes by starting a no-obligation 14-day free trial to our research!
ETF Trends: US Sectors & Groups – 11/3/16
Gold miners and anything metallic continues to outperform; 9 of the top 10 performers from our list are somehow involved in metals. With the move lower in equity markets lately, JPY, CHF, and EUR have outperformed while the GBP got a solid rally after a decision by the UK’s High Court to require an act of Parliament before Brexit. Oil-related stocks have plunged, and there are a number of other brutal performances as well; health care, Brazil, and Mexico all stand out.
Bespoke provides Bespoke Premium and Bespoke Institutional members with a daily ETF Trends report that highlights proprietary trend and timing scores for more than 200 widely followed ETFs across all asset classes. If you’re an ETF investor, this daily report is perfect. Sign up below to access today’s ETF Trends report.
See Bespoke’s full daily ETF Trends report by starting a no-obligation free trial to our premium research. Click here to sign up with just your name and email address.
Bespoke’s Sector Snapshot — 11/3/16
We’ve just released our weekly Sector Snapshot report (see a sample here) for Bespoke Premium and Bespoke Institutional members. Please log-in here to view the report if you’re already a member. If you’re not yet a subscriber and would like to see the report, please start a 14-day trial to Bespoke Premium now.
Below is one of the many charts included in this week’s Sector Snapshot, which is our trading range screen for the S&P 500 and its ten sectors. We discuss in more detail how to read the chart in the full version of the report, but basically the dot is where the sector is currently trading, while the tail end is where it was trading one week ago. As shown, the S&P 500 and eight sectors are currently oversold after a very rough week for the stock market. The S&P is actually well into extreme oversold territory, led lower by Health Care and Consumer Discretionary. The Financial sector is the only one that remains above its 50-day moving average.
To see our full Sector Snapshot with additional commentary plus six pages of charts that include analysis of valuations, breadth, technicals, and relative strength, start a 14-day free trial to our Bespoke Premium package now. Here’s a breakdown of the products you’ll receive.
