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Equity Flows Shift to Risk-On; Don't Fear a Low VIX:
Nov 28, 2023 Please Do Not Redistribute See Appendix for Important Disclosures ETF Research Tuesday, November 28, 2023 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com EQUITY FLOWS ... of 2023: 1) Outside of a hot summer run, we've described equity ETF flows as restrained for much of this year - perhaps the idea of a Fed ... Elsewhere, GLP- 1 popularity has accelerated, but Healthcare sector ETFs are on pace for a record year of outflows. S&P 500 (SPY) Monthly ...
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Our Most Important Charts Into Year-End:
Nov 21, 2023 $176,766 $999,010 $377,541 $241,816 $1,145,670 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 Equity ETFs Fixed Income ETFs Money Market Funds Equity ETF vs. Fixed Income ETF vs. Money Market Fund Flows $MM Since 10/12/2022 YTD Strategas ETF Research Please Do Not Redistribute See Appendix for Important Disclosures ETF Research Tuesday, November 21, 2023 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com OUR MOST IMPORTANT ...
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Fear The Cut, Not The Pause:
Nov 20, 2023 His firm, Chanos & Co., manages less than$200 million today, down from $6 billion in 2008 and its funds are down 4% so for this year, while the S&P 500 is up 19%, including dividends. The Wall Street Journal, 11/19/23 'Big Short' Fund Closes Out $1.6bn Bets Against ETFs Michael Burry, the hedge fund manager whose successful bets against the US housing market during the subprime crisis were immortalized in the film The Big Short, has pulled net of $1.6bn in wagers against two ...
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Fed Hold > Fed Cut, Too Many Dollar Bulls & Yen Shorts:
Nov 20, 2023 ... can Energy respond to it? ✓ Short-term momentum is oversold... ...while longer-term trends are still in decent shape. NO QUIT FROM URANIUM Strategas Technical & Macro Research Please Do Not Redistribute 11 11/20/2023 Global X Uranium ETF (URA) 50 & 200-Day MA URA Relative to S&P 500 ✓ MULTI-YEAR HIGH FOR SPAIN, BETTER CHART THAN CAC OR DAX Strategas Technical & Macro Research Please Do Not Redistribute 12 11/20/2023 Spain IBEX 50 & 200-Day MA Overbought/Oversold ✓ ...
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Asset Allocation: November Update:
Nov 17, 2023 ... 56% 31% 59% 36% International 44% 25% 41% 24% 100% 56% 100% 60% Strategas Portfolio Exposures Dev AC Core 35% 20% 30% 18% iShares MSCI EAFE Core ETF (IEFA) US LC Value 21% 12% 19% 11% iShares S&P 500 Value ETF (IVE) US LC Core 21% 12% 15% 9% iShares S&P 500 Core ETF (IVV) US LC Growth 9% 5% 18% 11% iShares S&P 500 Growth ETF (IVW) EM AC Core 9% 5% 11% 7% iShares MSCI EM Core ETF (IEMG) US MC Value 3% 2% 3% 2% iShares S&P Mid-Cap 400 Value ETF (IJJ) US SC Core 1% 1% 1% 1% ...
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Live Weekly Video Tomorrow, 8:30am EST; Discretionary vs. Staples Pair is
Key:
Nov 16, 2023 ... INTERNALLY, JAPAN REMAINS IN A POSITION OF STRENGTH Strategas Technical & Macro Research Please Do Not Redistribute 10 11/16/2023 Nikkei 225 50 & 200-Day MA % of Stocks Above 200-Day MA ✓ % of stocks above the 200- day remain one of the strongest in the world. BRAZIL'S RELATIVE TREND POSITIVE Strategas Technical & Macro Research Please Do Not Redistribute 11 11/16/2023 Brazil ETF (EWZ) 50 & 200-Day MA EWZ Relative to S&P 500 ✓ ANOTHER E.M. CURRENCY STRENGTHENING vs. USD ...
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Market Surge... Facts, Key Charts, & Implications:
Nov 15, 2023 ... One of our favorite short $ pairs. Downtrend developing here... lower-high followed by failure at the 200-day average. BRAZIL HAS BROKEN OUT & QUIETLY TURNING vs. U.S. Strategas Technical & Macro Research Please Do Not Redistribute 19 11/15/2023 Brazil ETF (EWZ) 50 & 200-Day MA EWZ Relative to S&P 500 ✓ Every asset class is paying in Brazil... the stocks, the bonds, and the currency. Note the 3m relative high vs. the highest bar in the business... the S&P. BRAZIL YIELDS ...
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Sector Research: Financials:
Nov 9, 2023 look through the lack of sustained Financials sector participation as anything other than concerning for the durability of the current advance. 11/9/23 Strategas Securities - Global Asset Allocation & Equity Sector Research PLEASE DO NOT REDISTRIBUTE 2 2.8% 1.8% -2.8% -4.5% 2.8% -3.4% -3.2% -3.7% 0.4% -4.3% 0.2% -5% -4% -3% -2% -1% 0% 1% 2% 3% 4% -$10,000 -$8,000 -$6,000 -$4,000 -$2,000 $0 $2,000 $4,000 $6,000 Relative S&P Performance Sector Flows ($MM) Sector ETF Flows vs. ...
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Government Shutdown Odds Increasing, Again:
Nov 9, 2023 ... STAPLES ARE HIGHLY SENSITIVE TO CHANGES IN THE SNAP (FOOD STAMP) PROGRAM 6 7 8 9 10 11 12 13 14 15 16 85 90 95 100 105 110 115 120 125 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Consumer Staples ETF rel SPY & SNAP Food Stamp Spending Consumer Staples ETF rel SPY (Left) SNAP Spending ($BN, Right) $6,567 $5,813 $5,317 $9,021 $14,528 $13,705 $9,622 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 2017 2018 2019 2020 2021 2022 2023 SNAP Spending, ...
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3 Quick Takeaways From London:
Nov 9, 2023 ... FRESH RELATIVE LOWS FOR SMALL-CAPS (AGAIN) Strategas Technical & Macro Research Please Do Not Redistribute 4 11/9/2023 Russell 2000 Index 50 & 200-Day MA Russell 2000 Relative S&P 500 ✓ Small-caps remain trendless and, as a result, again at fresh relative lows. 500 DAYS OF NOTHING... Strategas ETF Research Please Do Not Redistribute 5 11/9/2023 Russell 2000 Consecutive Trading Days Without New All-Time High 503 554 954 1177 512 508 623 7 th observation for the Russell 2000 ...
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