72% EPS beat rate so far
6.6% EPS growth SPX ex-Fins & Energy Source: Mike Zaccardi, BofA
The chart below shared by Yahoo Finance newsletters thru Ryan Detrick, CMT shows that big starts to an election year (like '24) tend to see chop and weakness into June.
https://lnkd.in/eANaDtsN
FINANCIAL GRAVITY as explained by Peruvian Bull:
If we divide the performance of the S&P 500 by the Fed’s Balance Sheet since the GFC, the LINE IS FLAT. This means that there has been basically NO REAL growth in stock prices since 2008- with the only rise in prices due to money printing. The correlation coefficient between central bank quantitative easing and the price of stock indexes is nearly 1... Source: Bloomberg
Big Election Year Q1s Dip April-May Before Gains Last 7 Months.
2024 is 3rd best Election Q1 since 1950 tracking. Historically, there is a dip in April-May before gains till year-ned. There was only 2 losses in the last 7 months of election years since 1950 (2000 & 2008) Source: Ryan Detrick, CMT, AlmanacTrader
SP500 Put/Call Ratio has risen to multi-year highs amid the recent market sell off.
Source: David Marlin
The S&P 500 is only down 3.7% from its peak closing price at the end of March.
The median intra-year drawdown since 1928 is -13%. What were seeing today is normal volatility - the first 3 months of the year were abnormally smooth. Source: Charlie Bilello
The sp500 closed below its 50-day moving average today for the first time since last November, ending the 10th longest streak since 1950.
Source: Charlie Bilello
The Mag7's weighting in the SP500 just hit another new high
Source: Cheddar Flow
