{"id":234000,"date":"2023-06-23T14:32:42","date_gmt":"2023-06-23T18:32:42","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=234000"},"modified":"2023-06-23T14:37:58","modified_gmt":"2023-06-23T18:37:58","slug":"the-market-in-pictures-june-23","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-june-23\/","title":{"rendered":"The Market in Pictures, June 23"},"content":{"rendered":"

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:<\/p>\n

 <\/p>\n

Dave:<\/strong> Right on cue, investors are finally turning bullish\u2026after stocks stage a significant rally<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: AAII as of 06.16.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> though their bearishness was right in line with most of Wall Street<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

\u00a0<\/em>Data as of May 2023<\/p>\n

 <\/p>\n

Dave:<\/strong> Outside of megacap tech, valuations aren\u2019t so crazy<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of May 2023<\/p>\n

 <\/p>\n

Brad:<\/strong> and holders of the broader market of stocks are hoping for at least some restoration of historical norms<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 05.31.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> especially those holding boring old dividend-payers\u00a0<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Strategas as of 06.21.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> Home inventory is super-tight, with few willing to give up their existing mortgage<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of June 2023<\/p>\n

 <\/p>\n

Dave:<\/strong> which would normally lead to bidding wars if not for the historically high cost to buy<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

\u00a0<\/em>Source: Strategas as of 06.20.2023<\/p>\n

 <\/p>\n

John Luke:<\/strong> The Bank of England is back on the offensive to fight persistent inflation<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 06.20.2023<\/p>\n

 <\/p>\n

Beckham:<\/strong> and even historically deflationary Japan is seeing inflation on the rise<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

\u00a0<\/em>Data as of 06.20.2023<\/p>\n

 <\/p>\n

Brad:<\/strong> We\u2019ve not had many examples of sustained equity rallies with inverted yield curves<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Strategas as of 06.16.2023<\/p>\n

 <\/p>\n

Joseph:<\/strong> and the reward\/risk of soft landing vs. recession is seen as pretty unfavorable by much of Wall Street<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

\u00a0<\/em>\u00a0<\/em><\/p>\n

Dave:<\/strong> Recession or not, stocks are pricing in solid but not spectacular earnings coming out of the recent weakness<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 06.20.23<\/p>\n

 <\/p>\n

John Luke:<\/strong> which seems a minimum requirement given the lack of equity risk premium currently available to investors<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 06.16.2023<\/p>\n

 <\/p>\n

Mark:<\/strong> This year\u2019s market has been different from recent years, with most of the gains occurring during trading hours not overnight<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Raymond James as of 06.20.2023<\/p>\n

\u00a0<\/strong><\/p>\n

\u00a0<\/strong>\u00a0<\/strong><\/p>\n

Disclosures<\/strong><\/p>\n

 <\/p>\n

Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.<\/em>\u00a0<\/em><\/p>\n

Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.<\/em>\u00a0<\/em><\/p>\n

This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible.<\/em>\u00a0<\/em><\/p>\n

Advisory services are offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level or skill or training. More information about the advisor, its investment strategies and objectives, is included in the firm\u2019s Form ADV Part 2, which can be obtained, at no charge, by calling (251) 517-7198. Aptus Capital Advisors, LLC is headquartered in Fairhope, Alabama. ACA-2306-17.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   Dave: Right on cue, investors are finally turning bullish\u2026after stocks stage a significant rally   Source: AAII as of 06.16.2023   Dave: though their […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","inline_featured_image":false,"footnotes":""},"categories":[20,194],"tags":[83,145,486,222,245],"class_list":["post-234000","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-inflation","tag-recession","tag-sentiment","tag-soft-landing","tag-valuations"],"yoast_head":"\nThe Market in Pictures, June 23 - Aptus Capital Advisors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-june-23\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Market in Pictures, June 23 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout each day. 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