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      Gross goes parabolic

      20% higher than when the year started and now at 100th percentile on 1, 3 and 5 year look-back.

      Gross goes parabolic
      Source: GS Prime
      Lower every time

      The S&P 500’s RSI has stayed above 45, for 102 straight days — one of the longest streaks in history. In the past 60 years, the S&P was lower EVERY time 2 weeks later.

      Lower every time
      Source: Subu Trade
      AI positioning

      "Positioning in the AI theme is getting crowded – we estimate a 9 out of 10 within the hedge fund universe via the lens of Mag7 and US AI Beneficiaries... managers have net bought global Info Tech stocks for five straight weeks and at a near record pace."

      AI positioning
      Source: GS Prime
      Sell Rosh Hashanah, buy Yom Kippur

      Dates are Sep 22nd i.e. this Monday and October 1st, respectively. It coincides also with post option expiry reversion effect the same week and Sep month end pension selling due to run up Sep MTD and start of buyback black-out.

      Fast & Furious

      The Mag 7 ETF MAGS is now up 60% since the April 8th low.

      Fast & Furious
      Source: Bespoke
      Echoes of 2000

      The 35% global rally since April lows echoes the 2000 TMT bubble.

      Echoes of 2000
      Source: Morgan Stanley
      Much more than 2000

      The S&P 500 has never been more concentrated in just ten stocks than it is today with the biggest U.S. companies representing over 38% of the index.

      Much more than 2000
      Source: Bilello
      The last time resulted in the dot-com bubble

      Starting a rate cut cycle with double digit earnings has only happened once in past 40 years.

      The last time resulted in the dot-com bubble
      Source: Macrobond