Stock Market Internals Earnings Momentum, Small/Mid/Large Caps, Growth/Value/Cyclicals, and Additional Factors
Momentum and Sentiment bounced back in May
Momentum and Sentiment bounced back in May, while Value and Quality struggled.
Additional Factors
S&P 500: Yet Another Record High Close In May
Earnings Momentum
The first month of Q1 earnings for 2015 registered an Up/Down Ratio of 1.63. After three consecutive above average quarters, the ratio did a swan-dive deep into below average territory.
Small Cap/Mid Cap/Large Cap
After residing in the 15-20% neighborhood for the past two years, the Small Cap premium may be finding a new home in the 5-10% range. Weaker earnings growth, and the outperformance of Large Caps over the last 18 months, are pushing the two P/E measurements closer to parity.
Growth, Value, Cyclicals
Value stocks, recent underachievers, regained some lost ground in April. Large Cap Value was the month’s big winner—helped in large part by rallying energy firms. Large Cap Growth still leads YTD by more than 5%.
Additional Factors
Gainers outnumbered losers by more than 2 to 1 for the largest 25 firms, while the overall market turned in uninspired results. Still, Q2 is off to a positive start for the S&P 500 as we look for the 10th consecutive quarter of gains for the index.
Earnings Momentum
The final month of Q4 earnings reports registered an Up/Down Ratio of 1.48. If you recall, we entered the final month of earnings with a well above average, two-month ratio of 1.67. On a stand alone basis, March had a very weak ratio of 1.06.
Small Cap/Mid Cap/Large Cap
Small Cap Premium Bounces Back To 10%
Growth, Value, Cyclicals
Growth Continues Run In Q1
Additional Factors
S&P 500: Home On The Range
Earnings Momentum
Up/Down Earnings: Ratio Still Above Average
Small Cap/Mid Cap/Large Cap
Small Cap Premium Plunges To 5%
Growth, Value, Cyclicals
Growth Stocks Dominating Value
Additional Factors
Our Equal Weighted measurement slightly outperformed the Cap Weighted index and now leads by 50 bps for the year.
Earnings Momentum
Up/Down Earnings: Solid Start With Q4 Reports
Small Cap/Mid Cap/Large Cap
Small Cap Premium Sinks To 13%
Growth/Value/Cyclicals
Momentum Continues For Growth Stocks
Additional Factors
S&P 500: Worst Month Since Last January
Earnings Momentum
Up/Down Earnings: Above Average Final Number For Q3.
Small Cap vs Large Cap
Small Cap Premium A Tick Higher To 16%
Perception for the Professional
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