"Retail traders are the new price setters in the market"

NEW: Daily Chartbook Studies

Don’t forget to check out our new home for interactive backtest dashboards and market studies at studies.dailychartbook.com 

New study published yesterday: S&P 500 Goes From 6% Below its 50DMA to 8% Above It

The goal is simple: take the kinds of historical signal tests we often reference here and make them easier to explore visually — forward returns, hit rates, signal paths, drawdowns, and full result tables, all in one place.

We’re making it available to everyone for now while we continue building it out. Feedback welcome.

1. Personal income vs. spending. "Real disposable income (aka the money in our pocket after taxes & inflation) fell 1.1% y/y in April while consumer spending is up 2.1% y/y".

2. Personal saving rate. The personal saving rate dropped to 2.6% in April, a 4-year low.

3. NAAIM Exposure Index. Active manage exposure to US equities jumped by the most since Aug'25 over the past week, pushing the NAAIM Exposure Index to new YTD highs.

4. Households vs. stocks. "Families now have a higher proportion of their financial assets in the stock market than even at the top of the dot-com bubble in 2000".

5. Retail activity. "Retail traders are the new price setters in the market ... Daily volumes on our cash platform are setting new highs and are on pace to finish nearly ~10% above the previous record established during the January 2021 meme-stock era."

ICYMI