Short squeze 2.0?
Hedge Funds are still massively short. This could lead to another massive short squeeze. Source chart: Alessio Urban, Goldman Sachs
The S&P500 has been failing regularly up here since last summer
Source: J-C Parets, All Star Charts
One of the best bank deals of our time?
First Citizens's shares jumped 54% after NCarolina lender took over SVB's $56.5bn in deposits as well as $72bn in loans at discount of $16.5bn. FDIC will help finance deal w/$35bn loan & $70bn credit line to help cover pot depo flight. Source: DJ, HolgerZ, Bloomberg
Why you need to invest, in one chart...
Source: Charlie Bilello
Coal stocks pressing to new multi-year highs
Not really the market action which was expected... In the face of limited energy supply, coal stocks are booming to a surge in coal demand. Source: Steven Strazza, All Start Charts
Climbing the wall of worry: US equities sentiment remains bearish
According to Goldman's average percentile of 16 sentiment & positioning indicators, sentiment today is more bearish than it was 1 month ago and 3 months ago. Peculiar. Climb the wall of worry.
A big test ahead for the S&P 500
S&P 500's uptrend that started last fall continues even with the index losing 2.6% this month. But with the S&P 500 closing below the 50 day moving average and trapped in a range just above its 200 day moving average, this week will be critical. Source: Bloomberg
A 60/40 Portfolio remains 14% below its all-time high
A 60/40 Portfolio of US stocks/bonds is currently in a 14-month drawdown, 14% below its all-time high. This is the longest drawdown for a 60/40 portfolio since the financial crisis (37 months) and before that the aftermath of the dot-com bubble (43 months). Source: Charlie Bilello
