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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin with a quick brief on the technical outlook of the S&P 500’s rejection of the 50-DMA. We also show some market internals including how Industrials are lagging Utilities as well as earnings estimates. Staying on the topic of earnings, we take a look at retailers ahead of their upcoming quarterly reports. Then, we take a look at Argentina after today’s 37% decline in the country’s stocks. Moving on to currencies, we show why the move to new lows for USDJPY is not necessarily bearish before finishing with a look at the federal government’s budget statement.
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