Clear Rock Market ChartBook

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©2021 CLEAR ROCK ADVISORS, LLC. ALL RIGHTS RESERVED.
The Good News.. Earnings
Source: Liz Ann Sonders (Schwab)

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Source: Udland, Myles. “Earnings Are Beating Expectations at a Record Rate.” Yahoo! Finance, Yahoo!, 30 Apr. 2021, finance.yahoo.com/news/earnings-are-beating-expectations-at-a-record-rate-morning-brief-
100229838.html.
- Myles Udland
“
”

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“Spectacular: I’ve been tracking these numbers for years and have never seen anything like this: The growth
estimate for Q1 is up 2200 basis points (bps) from the start of earnings season 3 weeks ago. Typically, the
bump is about 300 bps.” – Jurrien Timmer (Fidelity)

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“Another week, another jump. Job postings on @indeed up almost 2 points over previous week. 24.2% above
pre-pandemic baseline, as of 4/30. By next week, Honolulu might be only big metro where job postings are
still below baseline.” – Jed Kolko (Indeed)
The Good News.. Job Postings

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Source: Lyn Alden
The Good News.. Personal Income

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“Stated simply, what all this means is that the government remains responsible for a third of all
income, or 33.8 to be precise!” – Tyler Durden
Source: Durden, Tyler. “A Record 34% Of All Household Income In The US Now Comes From The Government.” ZeroHedge, 30 Apr. 2021, www.zerohedge.com/economics/record-34-all-household-income-us-now-comes-
government.
The Good (?) News.. Total Income

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“Savings rate has spiked again … now at 27.6% as of March (highest since last summer)” – Liz Ann Sonders
Source: Liz Ann Sonders (Schwab)
The Good News.. Savings Rate

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Source: Murray, Brendan. “A Summer of Sold-Out Ships Awaits as Sea Cargo Chaos Intensifies.” Bloomberg.com, Bloomberg, 3 May 2021, www.bloomberg.com/news/articles/2021-05-03/a-summer-of-sold-out-ships-awaits-
as-sea-cargo-chaos-intensifies.
The Bad News.. Supply Chains

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The State Of The Market.. Earnings Not Translating
“Positive Earnings Reports, Yet Prices Fall On Inflation Fears - h/t @LanceRoberts
chart on earnings beats not rewarded, Hightower notes prices falling on good news shows market focus on
inflation.” – Patrick Hill

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“The S&P 500 Index has had better months than the more than 5% gain it posted this April, but never before has a rally been so
widespread and far reaching, according to at least one measure tracked by Bloomberg. During 18 sessions this month through
trading on Thursday, 95% or more of the index’s members traded above their 200-day moving average. That’s the most days
ever observed in a single calendar month and double the previous high of nine days in September 2009.” – Brandon Kochkodin
The State Of The Market.. Market Breadth
Source: Kochkodin, Brandon. “April Was Record-Setting for the S&P 500 by One Measure.” Bloomberg.com, Bloomberg, 30 Apr. 2021, www.bloomberg.com/news/articles/2021-04-30/april-was-record-setting-for-the-s-p-
500-index-by-one-measure?utm_content=business&cmpid=socialflow-twitter-business&utm_source=twitter&utm_campaign=socialflow-organic&utm_medium=social.

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The State Of The Market.. Stock ETFs
Source: Ballentine, Claire. “A $246 Billion Bonanza Means Stock ETF Inflows Already Beat 2020.” Bloomberg.com, Bloomberg, 28 Apr. 2021, www.bloomberg.com/news/articles/2021-04-28/stock-etf-inflows-of-246-
billion-already-top-all-of-last-year.
“
” - Claire Ballentine

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The State Of The Market.. Valuations

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The State Of The Market.. Housing
Source: Rob Hager

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Chart Of The Week.. Capital Gains Scare?
Source: Sam Ro (Yahoo Finance)

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Scheduled Dogecoin Update.. It’s Back!
Source: Ostroff, Caitlin, and Caitlin McCabe. “What Is Dogecoin, How to Say It and Why It's No Longer a Joke.” The Wall Street Journal, Dow Jones & Company, 4 May 2021, www.wsj.com/articles/what-is-dogecoin-
how-to-say-it-and-why-its-no-longer-a-joke-thanks-elon-11612820776?mod=searchresults_pos2&page=1.

CONTACT US
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Our Locations:
Austin Office
9020 N. Capital of Texas Hwy
Building I, Suite 345
Austin, TX 78759
Phone: 512-735-0222
Dallas Office
4809 Cole Avenue, Suite 345
Dallas, Texas 75205
Phone: 214-923-5756
Kerrville Office
707 Hill Country Dr # 114
Kerrville, Texas 78028
Phone: 830-315-2555
Charles F. Hall, Jr.
Chairman
Phone: 210-464-1030
Email: chuck@clearrockadvisors.com
Ty Sanders
Chief Executive Officer
Phone: 512-576-1589
Email: ty@clearrockadvisors.com
Royce W. Medlin, CFA, CAIA
Chief Investment Officer
Phone: 214-923-5756
Email: royce@clearrockadvisors.com
Royce G. Itschner, CPA, CFP®
Managing Director
Phone: 830-315-2555
Email: rgi@clearrockadvisors.com
Corey Long, CFP®
Managing Director
Phone: 832-693-8254
Email: corey@clearrockadvisors.com
Aaron Lang
Portfolio Analyst
Phone: 469-623-1220
Email: aaron@clearrockadvisors.com
Tamra Nix
Operations Manager
Phone: 830-315-2555
Email: tamra@clearrockadvisors.com

DISCLOSURE
Clear Rock Advisors, LLC is registered with the SEC as a registered investment advisor with offices in Texas.
Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future
performance of any specific investment or investment strategy (including the investments and/or investment
strategies recommended and/or undertaken by Clear Rock Advisors, LLC) or any investment-related or financial
planning consulting services will be profitable, equal any corresponding indicated historical performance level(s), or
prove successful. It remains the client’s responsibility to advise Clear Rock Advisors, LLC, in writing, if there are any
changes in the client’s personal/financial situation or investment objectives for the purpose of reviewing, evaluating or
revising Clear Rock Advisors, LLC’s previous recommendations and/or services, or if the client would like to impose,
add to, or modify any reasonable restrictions to Clear Rock Advisors, LLC’s services. A copy of Clear Rock Advisors,
LLC’s current written disclosure statement discussing its advisory services and fees are available upon request.
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