Stocks finished with gains for the third consecutive week, small cap stocks beaten large cap stock once again. However, this rotation changed on Friday as the NASDAQ actually underperformed the NYSE. Corporate earnings report continue to roll with mixed results, poor numbers did not effect to the market rally. Initial jobless claims surprisingly fell (352k vs. 385k est.) while existing home sales continue to rise (4.61mn vs. 4.55mn). Treasury yields rallied along with optimistic economic data; the long end of the curve rebounded after a large decline a week ago, both the 10- and 30-year are currently yielding at its one month high at 2.05 and 3.10 respectively. Market is focusing on the FOMC statement next week, and more earnings results from the industrials and technologies firms will influence to the market movement.
Technical Hightlight:
• Small cap continued to outperform large cap stocks; rotation changed as the NASDAQ underperformed the NYSE last Friday.
• Trends improved from the long-term prospective; NYSE finished above its 200day moving average.
• Healthcare's RSMC sensitivity kept on falling as price rose.
• Utilities finished as the only sector with a lost for the week; offensive stocks shifted from the best gainers to losers by the end of the week.
• Historical return spreads are widening from the offensive stocks, but opposite for the defensive stocks.
• Rates lifted from the long-term of the curve; negative correlation strengthen between the long-term and short-term bonds.
• Corporate earnings mixed, financials show weakness.
read more at...
Alpbeta: Plus
or
http://plus.alpbeta.com/report/201203.pdf
Pleaes let me know your comment on this report, I would love to hear from you from the reader point of view. This is still new to me, the more I hear, the better it will be.
Thank you.
Technical Hightlight:
• Small cap continued to outperform large cap stocks; rotation changed as the NASDAQ underperformed the NYSE last Friday.
• Trends improved from the long-term prospective; NYSE finished above its 200day moving average.
• Healthcare's RSMC sensitivity kept on falling as price rose.
• Utilities finished as the only sector with a lost for the week; offensive stocks shifted from the best gainers to losers by the end of the week.
• Historical return spreads are widening from the offensive stocks, but opposite for the defensive stocks.
• Rates lifted from the long-term of the curve; negative correlation strengthen between the long-term and short-term bonds.
• Corporate earnings mixed, financials show weakness.
read more at...
Alpbeta: Plus
or
http://plus.alpbeta.com/report/201203.pdf
Pleaes let me know your comment on this report, I would love to hear from you from the reader point of view. This is still new to me, the more I hear, the better it will be.
Thank you.