Week of Dec 25 2015 Weekly Recap & The Week Ahead
“Happy Holiday”
1. “Smart Money Indicator” Hits Most Bearish Reading in History — the “Smart Money Indicator” which tracks the number of bearish put options vs the number of call options shows the Bear Option traders open put contracts now exceed call contracts by 3:1 for the first time ever. It also gave a false warning , like it did in 2003 and 2012 and last fall, when we first went over the 2:1 line.
2. Average Stock in the S&P 500 is 20% BELOW it’s 52-week High — according to Bespoke, below is a chart that shows how far stocks in the S&P 500 and each sector are trading below their 52-week highs. In the S&P 500 as a whole, the average stock is currently 19.4% below its 52-week high. Four sectors have readings below this level — Telecom (-22%), Consumer Discretionary (-22.2%), Materials (-24.5%) and Energy (-42.5%).
3. WTI, Brent Crude Reach Parity — the West Texas Intermediate settled at a premium to its global counterpart Brent crude for the first time in more than five years, and the spread between the two benchmarks is now nonexistent.
The week ahead — Economic data from Econoday.com:
Tags: Smart Money Ind