DC Lite #186

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1. Active inventory. According to Altos, active single-family inventory is now at its highest level since June 2020.

See: CalculatedRisk Newsletter

2. Employee sentiment. "The Employee Motivation and Commitment Index fell 21 points in August, the largest month-over-month decline in data going back to January 2022 ... [but] the index remains above its two-year average of 109."

3. SPX vs. gold. "In gold terms (how much gold it would take to buy the index), the S&P 500 is exactly where it was in August 1971."

4. Global breadth. "94% of ACWI markets are above their 50-day averages. We were at 17% just two weeks ago. Impressive rebound in global breadth. Only Netherlands, Peru and Turkey are sitting this out."

See: Hi Mount Research

5. Advance-Decline Lines. "Strength for these A-D lines continue to suggest a rotational versus a toppy market."