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      Fed in TIPS - absolutely massive

      Inflation expectations a bit artificial...but Fed seems to be serious.

      Fed in TIPS - absolutely massive
      Source: Nordea
      Reversal ready?

      NASDAQ remains inside the trend channel, but note the latest push higher has been rather muted so far. First support at the 21 day, coming in around 23500. Noteworthy is the small negative RSI divergence.

      Reversal ready?
      Source: LSEG Workspace
      Tony P on China

      "I touched on China earlier this week. I acknowledge the index has traded well of late. I also acknowledge that GS PB data shows hedge fund length is at YTD lows, and there are a few good tactical trades out there...much bigger picture, I think it’s notable that SHCOMP is still well below the 2015 highs (by comparison, over this same period of time, S&P has rallied over 250%)."

      Tony P on China
      Source: LSEG Workspace
      Will they chase?

      The AAII bull-bear spread falling, but market at ATH still. Will they give up and start to chase this higher again?

      Will they chase?
      Source: LSEG Workspace
      Retail sentiment

      AAII - Bulls giving up, and bears getting a bit excited.

      Retail sentiment
      Source: LSEG Workspace
      Not long enough

      China NET YTD lows, Gross YTD highs.

      Not long enough
      Source: GS
      95th percentile

      SPX P/E at 22.5x…95th percentile since 1988 writes Hartnett.

      95th percentile
      Source: BofA
      It better be different this time

      Hartnett's top chart of the week.

      It better be different this time
      Source: BofA