What? A Glimpse of Light?

Articles From: Toggle AI
Website: Toggle AI


But soft, what light through yonder window breaks? Is that Juliet? No, it’s an economic recovery!

Citi Economic Surprises Index

Source: Refinitiv

In this column we expressed a consistently bearish bias – and for good reason we might say: weak eps, expensive valuations, QT, and more.

So when we see data that goes against this narrative, we’re very keen to dig deeper into it. And recently we’ve noted quite a barrage of supportive data.

Citi Economic Surprises is on a tear (pictured smiling in the image above). US ISM Manufacturing New Orders recovered to 47. And US ISM Services New Orders rose back to 62.60.

Oh la la! Is that a recovery?

That might mitigate any worries about sharp selloffs in the short term, also helped by, you know, $420bn of QE fresh off the oven.

Keep an eye on the earnings of S&P 500.

What stocks are doing well today?

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TOGGLE Leading Indicators: TLI the lone bullish indicator

TLI remains in the bullish camp, whilst all other indicators remain in the mid-range. Where from here? In all cases when TLI was bullish the market found a bottom – at least until another indicator came to invert the trend.

  • TLI
  • Rangefinder Index
  • Peak Probability Indicator
  • Trough Probability Indicator
  • Candle Breadth
  • Market Phase Shift Indicator

Learn more about the Leading Indicators in the Learn Center!

TOGGLE Leading Indicator S&P 500 - 29 Mar 2023

Upcoming Earnings: Manchester United releases tomorrow

Upcoming Earnings: Manchester United releases tomorrow

Click here to test what to expect when MANU releases earnings tomorrow.

Discover how other companies could react post earnings with the help of TOGGLE’s WhatIF Earnings tool.

Asset Spotlight: AMZN trading volume at a low

TOGGLE analyzed 61 similar occasions in the past where volume analysis indicators for Amazon are falling and historically this led to a median increase in the stock price over the following 6M. Read full insight!!

Asset Spotlight: AMZN trading volume at a low

General Interest: RollingStone piece on Andrew Tate

Keeping it light (and lightly trashy) because it’s hump day.

Andrew Tate is a controversial personality to say the least. Quoting from the featured piece:

Via social media, Tate has cast himself as an invincible hero who has risen from poverty to unimaginable riches. He’s painted himself as a lothario irresistible to women — such an expert on them, in fact, that men pay to learn his methods.

With his carefully crafted facade, he’s risen to the top of the influencer ecosystem, with the far right embracing him as a free-speech martyr and the left’s condemnation of his misogynistic views giving him even more oxygen.“

Then he was jailed in Romania on suspicion of organized crime, rape, and human trafficking. So now his new social media strategy is to … appeal to women to defend him. Good luck. Tate has as many followers as he has detractors, so the schadenfreude abounds.

RollingStone wrote a great long piece on Tate, his past and his future. Sure, it’s not Quanta Magazine or Politico but we all like some juicy story now and then. Read more here (free).

Originally Posted March 29, 2023 – Daily Brief – What? A glimpse of light?

Disclosure: Toggle AI

IB Global Investments LLC, a subsidiary of Interactive Broker Group Inc., the parent company of Interactive Brokers LLC, is a minority owner of Toggle AI.

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Disclosure: TOGGLE Relationship with IBKR

IB Global Investments LLC, a subsidiary of Interactive Broker Group Inc., the parent company of Interactive Brokers LLC, is a minority owner of Toggle AI.