Energy Prospectus

Opening Prices:
> WTI is down 14c to $40.61/Bbl, and Brent is down 21c to $43.16/Bbl.
> Natural gas is down 1.5c to $1.708/MMBtu.

Closing Prices:
> WTI prompt month (AUG 20) was down $0.16 on the day, to settle at $40.59/Bbl.
> NG prompt month (AUG 20) was down $0.005 on the day, to settle at $1.718/MMBtu.

Good news for equity investors

Global long-term weekly fund flows were +$13.4B, with equity and bond inflows vs. the prior 4-wk avg. of +$12.7B.
Equity had passive inflows = $8.2B & active outflows = $3.4B; bonds had passive inflows = $9.0B & active inflows = $0.3B.

B of A: A new high for the S&P 500 advance-decline line is bullish
For those concerned about market breadth, rotation is the lifeblood of a bull market, and recent bullish rotation (Sectors and stocks on the move) has triggered an upside breakout for the S&P 500 (SPX) advance-decline line. This suggests expanding market breadth and is a potential bullish leading indicator for US equities. A new high for the A-D line on July 15 bodes well for a breakout and a potential new high on the SPX.