DC Lite #39

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1. Red Sea (I). "Container ships heading toward Europe and/or North America, with almost all avoiding the Red Sea (red). More than two weeks after the launch of US-led 'Prosperity Guardian', the Houthis still rule in the Red Sea."

2. Citi Economic Surprise. The Index has plunged from 63.4 at the end of October to 1.1 today.

3. JOLTs (II). The job openings-to-unemployed person ratio ticked up to 1.4 from 1.36 and remains above pre-pandemic levels but well below last year's 2.01 peak.

4. Client flows. Client outflows from Industrials over the past 4 weeks are the largest in BofA data history since 2008.

5. McClellan Summation. "Internal momentum has reached escape velocity. The McClellan Summation Indexes for indexes, sectors, and even entire exchanges have reached levels that have never been triggered during ongoing bear markets or before major corrections up to a year later. Over 60+ years of history, they have a nearly unblemished record of 6-12 month gains for stocks."