DC Lite #100
Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights. Upgrade to get all 30 charts.
1. Challenger job cuts. US employers announced 90.3k job cuts in March, the most since January 2023. Total cuts announced in Q1 were down 4.9% from Q1 2023 but up 120% from Q4 2023.
2. Commodity sentiment. NDR's Daily Commodity Sentiment Model is at its highest (most optimistic) since March 2016.
3. USD positioning. "A gauge of non-commercial trader positions — a group that includes asset managers as well as hedge funds and other speculative market players — is now the most long since 2022."
4. MOVE vs. VIX (I). "Going back over the last 35 years, the VIX versus MOVE ratio has only been lower 15% of the time."
5. Nasdaq vs. cycle lows. The Nasdaq’s “performance since its December 2022 bottom is lagging every rally off its 4 prior cycle lows.”
