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ISM Manufacturing

After 16 Months Without a 5% Market Pullback, Goldman's Clients Want To Know Just One Thing

After 16 Months Without a 5% Market Pullback, Goldman's Clients Want To Know Just One Thing

It's confusing to be a Goldman client these days.

One month after the investment bank reported that its Bear Market Risk indicator had jumped to 67%, a level it hit most recently before the dot com bubble crash and just before the global financial crisis and prompted Goldman to ask "should we be worried now"...

Equity Breadth Is Flashing A Negative Signal About Growth Prospects

Equity Breadth Is Flashing A Negative Signal About Growth Prospects

Submitted by Eric Bush via Gavekal Capital blog,

We all know that stocks are a leading indicator of economic growth and disappointingly recent breadth measures suggest that economic activity may slow over the next several months.

In the charts below, we show the percentage of stocks trading above the 200-day moving average for various market aggregates, regions and sectors (with a 1-quarter lead) against the 3-month moving average of the ISM Manufacturing Index.