Back on August 15th I shared the title of each collected data point in my “Current Trends, August” file. Here’s the balance of the month:

• Fund managers still fairly defensive, but less so in recent months. U.S. exposure at 20 month high, room to grow but bearish tailwind has passed. Same for Emerging Markets.
• Weekly MACD barely rolling over. RSI okay (i.e., stock market technicals are looking suspect).
• U.S. Corporate Debt showing strength. Denotes economic strength.
• Performance by sector denotes strengthening economy.
• Energy ‘stocks’ trend looks technically bullish.
• Consumer staples look expensive here.
• Biotech chart looks promising
• Global equities less overbought.
• Q2 earnings finish with best beat rate since 2010. Revenue beats best since 2014.
• Earnings guidance spread finished slightly in the red.
• Tech scored the best in terms of earnings and revenue beats in Q2.
• Jobless claims denote strong labor market. Under 300k fro 76 straight weeks!
• Industrial production improving.
• CPI for services higher, thanks to healthcare.
• Housing permits decline suggesting growth in starts is about to come to a halt. Possibly contract.
• Housing dynamic not a demand issue, but rather a lack of land and tight labor market.
• Jump in AAII bullish sentiment a red flag, if it keeps up.
• Year to date performance bodes very well for balance of year, historically speaking.
• Chicago Fed Nat’l Activity Index up again in July. Denotes economic strength and suggests a 3+% Q3 GDP print.
• Last year’s losers are this year’s winners. Denotes a new trend and strengthening of current bull market.
• Mortgage data does not support continuation of July’s blowout new housing results.
• Brazil’s new president courting global investors.
• New home sales suggest that the economic cycle is at a healthy stage.
• Eurozone consumer sentiment and retail numbers suggest no big Brexit hangover, at this point.
• Eurozone composite PMI shows continued expansion despite Brexit.
• Even France’s PMI signals a return to growth.
• Britain’s low rates may stimulate economy, but exacerbate the hugely underfunded pension problem.
• Early China data show stability extending into August.
• China environmental policy could shutter production; potentially supportive for industrial commodity prices going forward.
• Emerging Market chart finally looking up.
• Copper glut persists while nickel looking better.
• Westpac Banking Corp says iron ore price will suffer going forward.
• Contrary to popular political opinion, China is opening its sectors to foreign investors.
• Technicals improving for financial stocks, even, a little, in Europe.
• Yellen relatively hawkish, but no worries for huge move.
• Yellen speech pushed up on the dollar. Longer-term technicals, however, don’t support a higher dollar. 
• Rising crude inventories bearish for pricing.
• AAII bullish sentiment declines; which is a bullish sign going forward.
• Recent calm has brought almost every sector out of overbought territory.
• Consumer sentiment, non-seasonally adjusted, is unusually high for this time of year.
• Crude price technicals looking suspect.
• Chinese stocks look cheap.
• UK house prices and consumer sentiment good despite Brexit.
• The Chemical Activity Index shows real strength and speaks positively about industrial production and economic prospects going forward.
• Truck tonnage back down to the beginning of the year level.
• July construction spending good in key areas.
• Auto sales, overall, disappoint. Mixed on a maker by maker bases. Sales are essentially moving sideways for now.
• Euro corporate bond yields crater as ECB steps in.
• Eurozone sentiment indicators show no recession worries, despite Brexit.
• UK credit soft, but not slumping, post Brexit.
• Canada joining China’s new infrastructure investment bank (smart!)
• China’s top steel mills bearish on price going forward