FTDS - CDT Insider Sentiment May 2024: Keep Your Seatbelt Fastened

2024-06-05 20:20:00 ET

Summary

• In May, the S&P Total Return index was up almost +5%, a bounce back and some, but we question the foundation for which this move up is built.
• According to the folks at S&P Down Jones Indices (link), Q1 earnings per share for the S&P 500 index were up just +4.7%, below the 25-year average of +7%.
• Insiders are middling. Sentiment generally has been oscillating between dour to normal with some breakouts of excitement that prove transitory.

Monthly Update

April rains bring May rallies. April’s -4.1% drawback in the S&P 500 proved to be a very brief interlude for the insistent 2024 market rally. In May, the S&P Total Return index ( SP500TR ) was up almost +5%, a bounce back and some, but we question the foundation for which this move up is built....

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