Heatmaps

Investor sentiment has continued to cool as risky assets have drifted slightly lower. This is a typical pattern. A rally…

Back from Japan and back to a full Heatmap Update this week. It’s a fantastic place — great food, culture…

The latest rally has pushed investor sentiment to its most bullish levels since the start of the year. For both…

If you only looked at the S&P 500, you might think it had been a relatively quiet few…

Geopolitics is back in the headlines — and back in the driver’s seat for markets. The latest flare-up in…

At the headline level, risky assets have been moving sideways since May. Underneath the surface, however, market leadership has changed…

Sentiment is getting more bullish, but without becoming extreme. The bigger change this week is underneath the surface. The unusually…

While equities have been trading sideways around all-time highs, sentiment has also been moving sideways — but well below its…