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VIX down from recent "panic" highs, but MOVE refuses giving back any of the gains. Watch bond volatility closely here as it is a big part of the current macro puzzle.
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All of a sudden this US cycle is the 6th longest in history. It will enter the top 5 if we avoid a 2026 recession.
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Unparalleled access to private capital (around 20 times greater than the next-largest market) has helped finance the current wave of pioneering AI investment and innovation. US private AI investment reached $285bn in 2025, more than 20x as much as in China.
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US L/S Gross leverage at 202.9% (2nd percentile one-year), while US L/S Net leverage at 51% (6th percentile one-year).
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Five Charts That Matter
Never Bet Against America
The Most Hated High Ever?
The End of the Affair
Forget Property: China Has Picked Its New Growth Engine
Pointing Out The Ones Nobody Likes
The AI Volatility Monster
The Forgotten Metal Is Waking Up
The Leaders Are Breaking
The AI Memory Trade Is Unraveling
In Sickness And In Health
Time For Gold?
The AI Feedback Loop Is Reversing
What We Witness Now Has Only Ever Occurred At Major Turning Points
The Market Is Starting To Shift
Mania Made In Korea
Software Strikes Back
AI: When Scarcity Becomes Abundance
Bond Vol Is Stirring
Bitcoin: Broken, Or Bottoming?
Go Woke Go Broke: Nike Stopped Obsessing Over Athletes And Started Obsessing Over Activism
Sell Low, Buy High
Too Much Big Tech Fear?
China's Forgotten Giants
Our Favourite Goldman Indicator Is Back: Now The Most Stretched Since 2024
7 Magnificent Reasons To Buy Magnificent Seven
The Bounce
The Sentiment Split
Remember Software?
Always Something To Chase
Time For Tech?
The Insane Earnings MoMo Losing A Little MoJo
The AI Trade Is Eating Itself
"I drink your milkshake! I drink it up!"
The AI Trade Is Getting Complicated
The China Washout
The AI Trade's Inflection Point
The World's Biggest AI Pressure Cooker
The AI Apocalypse: From "Don't Panic" To "15 Million Job-Body-bags"
The End Of The MAG7 Trade?
When Leverage Becomes The Market
Silver's Great Implosion
Gold Isn't Trading Like Gold Anymore
The Liquidity Crime Scene: Follow The Money
Crowded. Leveraged. Extended.
Emerging Markets Or AI Mania?
The Dollar Is Dead. Long Live The Dollar
Pressure Building In Semis
The Dollar Has A Message For AI Bulls
Imagine VIX At 95
Biotech Breaks Out As Pharma Starts Looking Past 2031
The Number Of Things That Need To Go Right
The Dollar Breakout Nobody Believed
The AI Trade Is Getting Uncomfortable
The World's Biggest Trade Starts To Crack
Gravity Strikes The Asian AI Casino
Lag7
1995 Or 2000?
Gold's Next Big Move
The Great AI Divergence
Too Big To Ignore
You Think The Hyperscalers Have Too Much Power Already?
Welcome To The Ultimate K-Shape
Panic Buying: Hedge Fund Leverage At 4-Year Highs After One Of The Sharpest Buying Periods In History
Something Doesn't Add Up
The Great Concentration
The Rise Of AAMON
Netflix & Spotify Under Attack
Bigger Than Dot-Com
Goldman's Tactical Capitulation Is Your Buy Signal
The Daily Wrap
China AI: What If Good Enough Wins?
The Post-Modern World: Why The Winners Of The Next Decade May Look Nothing Like The Winners Of The Last One
Semis: The New Systemic Risk
The Dollar Trigger
Something Doesn't Add Up
Everyone Fears Inflation. Bond Vol Doesn't.
The Bubble Nobody Calls A Bubble
The AI Beast Inside EEM
What Is Happening To IT Budgets In The Age Of AI?
Bubble Charts >> Bullish Charts
Semis Dropped 6%. Is The Momentum Party Over?
The Mania Monitor
What If The Oil Market Is Wrong?
The Calm Before Volatility?
The Leverage Casino
The Gold Powder Keg
Who The Hell Is Doing All The Buying?
Musk Winning On All Fronts: Deliveries Tracking Ahead of Consensus
The Risk-On Machine
The Tech Volatility Anomaly
The Most Important Chart In Semis
The Silver Bear Trap
The Max Frustration Market
Peace Deal Panic: What If The Bulls Were Right All Along?
Tech: 99th Percentile Longs Meet 99th Percentile Volatility
I Love You, You Pay My Rent: The Most Expensive Bromance In Markets
Private Credit Is Supposed To Be Cracking. So Why Does Nobody Seem To Be Selling?
The Bounce Changes Nothing
Oil Bulls Have Disappeared
One Market Is Lying
That Was Quick: Hedge Funds Just Flushed Positioning Back To The 8th Percentile
This Is What A Broken Market Looks Like
The Two-Way Panic Market
Silver - Back From The Dead?
Have No Fear, Says The Cat In The Hat (And Goldman Sachs)
The Great Debasement Unwind
The AI Boom Is Becoming A Volatility Story
Software's Second Chance
The AI Proxy Nobody Realized They Owned
The Fragile Market
Is long Financials the ultimate hedge for the AI trade?
This Still Isn't Panic
The Hyperscaler Capex Just Keeps Getting Bigger And Bigger
Born Rich, Stay Rich
Funding The AI Mania
If Gold Can't Rally Now, When Can It?
The ETF Casino Is Running The AI Trade
Nobody In Control
The Rally's Biggest Buyer Could Become The Next Crash's Biggest Seller
Cracks In The AI Casino
What Does Silver Know?
Don't Trust The Bounce
Why Isn't The Dollar Higher?
The Bounce Trap
Mallmaxxing, Millionaires And The Myth Of The Broke Consumer
The Hidden Inflation Story Nobody Is Watching
The Most Important SOX Chart Right Now
The AI Trade's Fragility Problem
Ron Baron Sees $30 Trillion, Revolut Is Pitching SpaceX To Seventh Graders...
The Dip-Buyers' Survival Guide
The Curious Case Of The Bearish Bull Market In Gold
The AI Trade Just Hit A Wall
The AI Trade Just Hit A Wall
Leveragepalooza: Sell, Sell or Sell
Bloodbath
Fear Returns To Wall Street
Semis Slaughtered
Red Alert For AI Bulls
The First Crack In The AI Mania?
The Ghost Of 2000 Just Called — It Wants Its Bubble Back
Several Markets Are About To Decide
Has Everyone Given Up On Gold?
The Bond Market Holds The Key
From SOX To MAG?
Hedging Downside Risks Via Put Spreads Makes Sense In Our View
The First Cracks
Bitcoin's Moment Of Truth
3 Mega-Cap Charts We Are Watching
May The Deals Be With You
The Margin For Error Is Shrinking
Emerging Markets Rally Broadens Beyond the Semiconductor Boom
The Market Has Forgotten How To Go Down
Oil Up. Rates Up. Stocks Don't Care.
Investors Are Looking At The Wrong AI Chart
The Year The Magnificent Seven Stopped Being Magnificent
The IPO Market Is Back. Investors Should Remember What Usually Happens Next
The IPO Market Is Back. Investors Should Remember What Usually Happens Next
More AI, No Protection
Nobody Wants Protection
The Most Speculative Market On Earth
The Most Underowned Trade In Global Tech Is Starting To Move
Nobody Wanted Software. Now Everybody Does.
Every Bulldog Apparently Has Its Day: Goldman Says Buy Britain
Perfection Prevails
The Trade Everyone Missed
Nobody Wants Bitcoin
Speculation Nation
Nobody Wants NVDA
Europe: Burning In The Streets, Underowned In The Books
Ford Flying, Materials Moving & Some Real Early-Cycle Optimism
The 6 Tech Charts That Just Need Bigger Charts
10 Charts That Make Us Go Hmmm...
The Semiconductor Boom Keeps Finding New Gear
SaaSmageddon Canceled: Software Stocks Rip For Seven Straight Weeks
Everyone Is Long. What Could Possibly Go Wrong?
What If Everyone Is Wrong And SpaceX Is Actually A Great Short?
Nobody Wants Protection. Nobody Wants Gold. Nobody Wants Software.
The Strongest Buyer Never Stopped Buying Gold
Everybody Loves Semis. Nobody Loves Software.
Another Rates Breakout Just Died
The Market Is Now Panicking Not To Panic
Who's Going To Change Grandma's Diaper?
1997 With GPUs
Max Pain
Housing Taking An Extended Ride On The Flatline
The AI Trade On Steroids Is Wobbling
Semis Killed Bitcoin
The “Most Fundamental Rally Ever” Is Breaking With Fundamentals
Kalshi Ate Robinhood’s Lunch
The Return of “Higher for Longer”
The Melt-Up Still Owns The Trend But The Upside Reflex Is Fading
Semis Leverage Machine Starting To Wobble?
AI Stole Gold’s Story
The Korea AI Mania Is Entering Air Pocket Territory
Enfeebled Europe Closing in on ATHs
In Semis We Trust
Semis Officially In Full Panic-Buying Mode
The Semiconductor Boom Is Starting To Look Like Dutch Disease
Head Fake Or Next Leg Higher In Rates?
The Most Hated Trade On The Screen May Be About To Rip Again
AI Melt-Up Bubble? Maybe. Earnings Explosion? Definitely
Sold The Downtick
The Melt-Up Machine
Can’t Spell China Without AI
Trickle-Down Economics Just Bought Another Yacht
The Most Hated ATH Ever - And Now With Ceasefire Catalyst
One Trade To Rule Them All
Ozempic Was The Warm-Up. RETA Is The Killer
Nobody Fears Downside Anymore
Wall Street Is Panic Buying Upside As Protection Collapses
The Calm Before The Volatility Storm
The Fed Is Losing Control Of Rates…Stocks Still Don’t Care
US Bond Bear Markets Always End With Turmoil In Stocks
The AI Melt-Up Is Finally Running Into Rates
Nobody Owns Software Anymore… Right As IGV Nears Breakout
The China AI Options Anomaly
Spot Up Vol Up Korea Goes Full Panic
The Quant Trade That Became Everyone’s Problem
Numbers Do Not Matter In Space
Markets Still Refuse To Believe In King Dollar
Schizophrenic Markets
Upside Panic, Nobody Wants Protection
Lot Of MOVEs
The Bond Market Is Starting To Break The AI Melt-Up
King Of AI Cracks
DeepSeek Blues: Deja Vu?
Jamie Dimon’s Favorite FX Brain Is Buying Dollars Again
Tokenmaxxing: Bye Bye Fixed Costs: AI Becoming A Metered Utility Headache
The Bond Market Is Becoming Stocks’ Biggest Problem Again
The Bond Market Is Becoming Stocks’ Biggest Problem Again
We Were Ready To Increase Our Short - Then These Charts Showed Up
Crowded, Leveraged, Fragile
The Most Crowded Trade On Earth Is Cracking
Semis Finally Blink
Gold Is Quietly Becoming The Most Ignored Trade Again
The Europe Comeback Trade Is Quietly Falling Apart
“Different This Time”
Dead Continent Walking? 12 Charts That Scream “Avoid Europe”
Everyone Is Long. Everyone Is Levered. Everyone Thinks They’re Hedged
Tech Has A Rates Problem Again
Everyone Hates Banks
The Momentum Bubble Is Starting To Crack
The Macro Charts That Make Us Nervous
One Of Tech’s Biggest Rotations Is Brewing
Downside Fragility Just Exploded
The First Real Crack In The AI Melt-Up
The Bond Market Just Flashed A Major Warning
Ford Is Apparently An AI Company Now
The Momentum Trade Is One Ceasefire Away From Total Carnage
The Melt-Up Keeps Sucking People In
Downside No Longer Matters
The Most Underpriced Macro Trade?
Spot Up. Vol Up. Breadth Breaking
This Is England: Stagflation, Gilt Stress, And A Slow-Motion Sovereign Decay
Retail Frenzy 2.0: $12 Trillion Army Returns To The Casino
NVDA: Funding The AI Melt-Up
Upside Max Pain
China’s Forgotten Tech Trade Is Exploding
Signs Of Upside Exhaustion
The Bond Market Is Starting To Crack
The Unbuyables: Not Listed. Not Liquid. Not Yours
The AI Melt-Up Finally Started Cracking
Everybody Got Sucked Into The Upside
Rates Are Starting To Matter Again
Nobody Cares About Downside Anymore
Korea’s Upside Panic Just Turned Dangerous
"Madoff Chart" Earnings Keep Going Vertical—What Could Possibly Go Wrong?
The Bro Trade Is Back: Micron, Momentum, And Maximum Degeneracy
Max Pain Market
Silver Leaving Even SOX Behind
Forced To Chase
Nobody Owns Enough China Tech
This Is Not The Time For Zero Hedges in AI
Rally Reservations: Positioning Signals Diverge
The Glory of Low Expectations
The Beautiful Game
Fab Five Fundamentals
Hyperscaler Capex +91% vs Buybacks -64%
Canada’s Housing Bubble Pops… And The “5-Year Time Bomb” Is Just Ticking
Software Squeeze Potential: Positioning Still -4 Sigma
If You See A Bubble, Ride It
Spot Up. Vol Up. Upside Panic.
Europe Is Trading Yesterday’s Economy
Nobody Cares About Silver… Yet
The Return Of Irrational Exuberance
First Crack in the AI Bull
Nobody Owned Enough Upside
6 Of The World’s Top 7 Markets Are In Asia
Software Shorts Starting To Feel Real Pain
KOSPI FOMO Is Getting Dangerous
The Gold Squeeze Setup Is Rebuilding
AI At Discount
“If something can't go on forever, it won't”
Dot.Com Energy Is Back
The Most Hated Tech Trade Is Waking Up
The Entire Market Is Chasing The Same Trade
Silver’s Squeeze Setup Is Back
The AI Melt-Up Just Went Full Panic
Everything Is Squeezing… Not Everything Is Confirming
NVDA: Funding Trade… Or Warning Sign?
Anthropocalypse Now: $1.2 Trillion AI Dreams And Still “Not Enough” GPUs
Oil Is Going Nowhere… But Risk Isn’t
The Upside Pain
Hated Software Starts To Squeeze — And Nobody Owns It
Double Digit Earnings Growth Is Now the New Median
"This Time It's Different"
This Is What Late-Stage Looks Like
This Is What Crowded Looks Like — Now Comes The Test
Rates Are Breaking Things — Equities Just Don’t See It Yet
European Vol Is Screaming. Markets Aren’t — Yet
The Last Leg Of The KOSPI Mania Is Missing
Bitcoin: You Don’t Get Squeezes In Crowded Trades. This Isn’t One.
Seven Charts We Are Watching On Valuations
European Goldilocks gets stuck in Hormuz
No, We Are Still Not There Yet
Not As Good As It Looks Under The Surface
Five Charts That Scream "We Are Not There Yet"
Complacency Meets A Shooting Star
Silver On The Verge… One Push Away From A Squeeze
The Oil Buffer Is The Trade… And It’s Being Eroded
Complacency Is Back… Right On Cue
The Bull Case For A China Macro Comeback Is Getting Harder To Ignore
GS: Bitcoin Shorts At Risk Of Forced Liquidations
China Tech Wakes Up As High-Beta Leads… Laggards Next?
Squeeze Rages As Dip Buyers Get Left Behind
Silver Compressed, Mispriced… Waiting For A Trigger
When Rates Vol Moves… Everything Moves
Goldman credit strategist: "Less concerning than the BDC equity prices would suggest"
The Amount Of Money This Will Cost The US...
Late Length, Short Convexity… Oil Squeezing Into It
The Market Is Still Short Barrels
Gold Isn’t Acting Like Gold
KOSPI Is Ripping… And Ignoring Everything
The Most Crowded Trades In Equities Right Now
The Market Has Become One Trade
Semis Crack… Oil Still Squeezing
XLE Bounced… Now What?
The Semis Move Just Blinked
The 30-Year Is Creeping Toward 5% Again
The 30-Year Is Creeping Toward 5% Again
Oil Is Rising Quietly… Too Quietly
AI Agents Trigger Europe’s €2 Trillion Power Grab
Quiet Index… Loud Risk Beneath
Why Mess With A Good Thing?
The Rally That Won’t Let You In
AI Needs Silver… Silver Isn’t Moving (Yet)
Semis Went Parabolic… Now What?
Dollar Breaks The Model
Nothing Breaks… But Nothing Works Either
The Bid That Never Blinks Is Back Here At ATHs
Looks Like A Breakout… Trades Like A Squeeze
The AI Boom’s First Real Risk: A Political Shutdown Of Its Power Supply
Largest Hedge Fund Selling In 7 Months
"There is no training that can prepare for trading the last third of a move" (Paul Tudor Jones)
Squeeze, Stretch… And Subtle Cracks
Upside Panic Takes Over Semis
The Oil Market Is Still Short Barrels
When Beta Takes Over… It’s Late
Crowded, Extended… And Running Out Of Fuel
Europe Loves Trump: The Accidental Catalyst Behind The 50% Melt-Up
Gold Is Going Nowhere… That’s Still The Trade
The Semis Squeeze Is Going Parabolic… And Getting Dangerous
Is The Energy Catch-Up Trade Finally Starting?
From Forced Buying To Air Pockets Lower
A Fragmented Rally
Stocks Keep Rallying… Everything Else Disagrees
Peak War Trade? Europe’s Defense Stocks Slip Despite Exploding Budgets
China Tech Left Behind… But For How Long?
Bitcoin Is Breaking… And Nobody Cares (Yet)
Post-Software Squeeze
Don’t Buy The Earnings Hype
U.S. Inventory Cycle Shows Signs of Turning
Less Conviction… More Risk
Crowded Upside… Empty Downside
From Squeeze To Chase… And It’s Getting Fragile
The Strongest Bull Market Nobody Owns
BTC “Brewing”: The Most Hated Breakout Setup Is Back
More, More, More: The Corporate Bid Set To Explode
Tesla: Retail Won’t Stop Buying As Fundamentals Keep Sliding
BlackRock: “We view AI as a supercharged mega force"
The Rally Is Starting To Feed On Itself
Break This Level And The Software Squeeze Accelerates
Break This Level And The Software Squeeze Accelerates
The Options Tail Is Wagging The Dog
This Is What Late-Stage Squeezes Look Like
Can Stocks Keep Ignoring Oil?
Someone bought 85,000 SPX 90:1 payout “digi” calls on Friday
China Gains Quiet Leverage Ahead of Xi–Trump Talks
ECB Is Still Fighting 2022
A Different Cycle in Europe: Earnings Hold, Investors Hesitate
Taiwan Bigger Than China
2025 In Disguise? The Same Setup, The Same Squeeze
Inverse Fear Is Taking Over The Market
China’s Fast Money Is Back
Silver Is Waking Up… And Nobody Is Positioned
The MAG Trade Has Turned One-Sided
Sell Low, Buy High: Welcome to the Max Pain Trade
Tech Bubbles And The Roman Empire
Flows Are In Control… But The Setup Is Getting Fragile
Nothing Matters… Until It Suddenly Does
$150BN Of Buying In Days… And It’s Not Over
From Squeeze To Chase: MAGs Go Too Far, Too Fast
From Panic To Calm: Bond Vol Roundtrip
They Shorted Software… Now They’re Getting Squeezed
Morgan Stanley Derivs Desk: Europe Is Capped, Buy America
Morgan Stanley Derivs Desk: Europe Is Capped, Buy America
99.7% Melt-Up Meets 12-Stock Breadth Collapse: What Could Go Wrong?
From Forced Buying To Full-Blown Chase
A Wall of Capital Waits on the Sidelines
Brazil Is Starting to Overshoot
The Energy Flush
The Squeeze Paid. The Chase Will Hurt.
AI Jesus Is Still at the Wheel
Inverse Panic: From Forced Selling To Forced Buying
Silver: Break $80… And This Can Squeeze Hard
Tech Broke Your Brain… Now It Wants $10 Trillion To Fix It
Panic Gone… Complacency Back
IGV: Fifth Test… And This One Matters
IGV: Fifth Test… And This One Matters
BTC: Break $75K… And It Goes
From De-Risk To Re-Risk
The Pain Trade Is Higher Again
The Oil Signal Is Fading
Vol Has Reset… But The Macro Hasn’t
12 Charts That Should Make You Pause
Only 4% Winners: Software’s Brutal Reality Check
Banks Into Earnings: An Update on Flow, Positioning, What's Crowded And How High the Bar Really Is
A Divided Picture Emerges for Europe
War, What War? Stocks Rip As Hedge Funds Chase
The Squeeze Worked… The Chase Is The Risk
Europe’s Bounce Looks A Bit Too Perfect
Vol Reset…Risk Didn’t
They Sold The Lows… Now They Fuel The Upside
From Supply To Squeeze… MAG Is Back In Play
Crash Erased… Squeeze Done
Messy Energy… Now What?
Gold Isn’t A Hedge Anymore
The Most Crowded Trade Just Cracked
This Isn’t About Yields… It’s About Volatility
AI Mania Rolls On: No GPUs, New Highs, And A 400% NVDA Upside Call
From an Earnings Standpoint, the World Is Wonderful
Back To The Middle… And The Edge Is Gone
Brazil: The Trade Everyone Ignored Is Now Printing… Fast
This Is Where Traders Get Destroyed
Nobody Is In… And Silver Just Broke
From Washed-Out To Melt-Up: Korea Rips
Retail Finally Panicked… Right At The Lows
From Breakdown To Squeeze: Tech Just Flipped The Script
Smaller Selloff, Same Setup: Why Gamma Matters Now
The Gold Setup: Long-Term Tailwinds, Short-Term Trap
Downside Needs A Shock… Upside Needs Nothing
What If There Is A Ceasefire?
RIP Traditional Tech: The Bubble Has Burst
Squeeze Or Fade
At The Inflection Point — Now What?
Bond Vol Just Collapsed — Now Watch The Squeeze?
Markets Don’t Wait: Why The Bottom Comes When Everything Still Looks Terrible
Emerging Markets Move in Lockstep With Developed Peers Amid Global Shock
US Tech Is Now Cheaper Than Europe — Here Is Why
Not Running Out of Oil… Just Running Out of Access
Drawdowns Remain Surprisingly Small vs Historical Stagflation Shocks
"Sell Everything Europe": 3rd Biggest Dump In A Decade As Flows Go Full Capitulation
Selling Extreme, Conviction Missing
Silver Stuck In Chop As Pressure Builds
Silver Stuck In Chop As Pressure Builds
The Bounce Just Failed — Now What?
Extreme Oil, Extreme Vol… What Breaks First?
Goldman: "Don’t wait for the conflict to end to buy Agentic AI"
Violent Bounce Hits Resistance: Trap Or Turn?
From Overbought To Support In 3 Days — XLE Just Reset
The Easy Part Of The Bounce Is Over — Now Comes The Hard Part
SPX Can Handle Rates — It Can’t Handle Bond Vol
Brazil Is Quietly Becoming The Cleanest EM Trade
The Great Mag 7 Unwind Is Done — And Nobody Is Positioned For The Upside
The Economic Impact of Higher Oil May Be Smaller Than Feared
They Sold Everything… Then Got Squeezed
Silver Squeeze Setup: The Turn Is Starting
Gold Stabilizing After The Puke — Squeeze Setup Brewing
They Chased Korea… Now They’re Trapped
CTAs Puked. Dealers Short Gamma. Squeeze Setup Is Here
To capitulate, or to have capitulated, that is the question
The Crypto Ecosystem In Survival Mode: Volumes Collapse, Funding Dries Up
Everyone Is Looking For The Bounce — And That’s The Problem
The AI Trade Everyone Loved Is Now Breaking Down
The Most Perfect Trade In The Market Is Getting Dangerous
Oil vs Inflation: One Of Them Is About To Be Very Wrong
Earnings Hold Up, Even as Markets Waver
China Loves the Iran War
If You Believe in Voodoo and Small Quant Studies
So Close to a Magnificent Bear
European High Yield CDS At The Widest Level Since April
This Is The 3rd Largest Hedge Fund Selling In Over 10 Years
The Déjà Vu Breakdown
Markets Are Finally Pricing Fear… But The Fast Money Has Already Sold
From Flow Shock To Depletion, Oil Enters Its Next Phase
MAGs Are Bleeding Out—And Now It’s Accelerating
Markets Are One Break Away From Getting Ugly
EM Is Cracking Just As The Crowd Piled In
Software On The Brink: Break…Or Violent Squeeze
Looks Orderly… Until It Isn’t
One More Oil Squeeze… And Something Breaks
100 Days Since the Tech Peak
The Bounce… Or The Breakdown?
Equities Look Calm… Everything Else Disagrees
Bond Vol Screams Stress… Equities Aren’t Listening
The Gold Vol Flip: Panic Hedging Sets Up A Squeeze
EM Is Breaking… Brazil Isn’t
Hit it when it is down: 11 more charts of why Europe stinks
Good Enough For a Short-Term Bounce?
Chaos Markets: Pressure Is Building Everywhere
XLE Won’t Stop…Until It Does
EM On The Brink: Rates, Oil, And Vol Collide At A Must-Hold Level
The 4.4% Line: If The 10-Year Breaks, Everything Changes
Gold Prints A Hammer As "Smart Money" Buys Puts
Financials have the biggest underweight across sectors
Back Inside…But Nothing Feels Stable
Massive Oil Move…But Uncertainty Isn’t Going Away
Software: The Squeeze Setup Builds
Buy High, Sell Low: The Max Pain Market Lives On
Silver Hits Range Lows As Hammer Traps Late Sellers
From Safe Haven To Pain Trade: Gold’s $1000 Collapse
Yet Another "Annus Horribilis" For Europe
Seven Things That Have Yet To Break
That Was Quick! Tech Now the Most Discounted Sector in the S&P500
The Rates Market Is Losing Control
Hello Stagflation, My Old Friend
Are We There Yet?
From Grind To Crack
Ripping Rates, Rising Vol, Rising Risk
Silver’s Most Dangerous Phase: The Chop That Destroys Both Sides
5-Sigma Selling, Short Gamma And Oil Stress. What Could Go Wrong?
Make-Or-Break: Markets Hit The Edge As Oil Decides Everything
The NASDAQ vs S&P500 Implied Vol Spread Is Approaching Multi-Year Lows
DAX At The Edge — Europe’s Make-Or-Break Moment
From Darling To Disaster: Gold’s Crowded Trade Starts To Unwind
From Grind To Break? The Most Dangerous Market Is The One That Won’t Panic
European Pharma Not Acting Like a Safe Haven
Cracks Forming As Markets Press Key Support
Silver’s Hangover Isn’t Over — The Unwind Continues
Gold Is Not A Hedge — It’s A Crowded Trade
Europe Is Getting Hit From All Sides — And The Euro Is Cracking
KOSPI Surges 5% As “Upside Panic” Returns — And It’s Not Even Overbought
Bernstein says NVDA "almost absurdly valued"
The Most Frustrating Market In Years
Ten Charts That Caught Our Eye
Credit is getting attractive
Rates Trapped — Oil Dictates The Next Move
The Grind That Breaks Hedges: Why Markets Refuse To Crash
EM blues: 2022 déjà vu as oil risk and USD strength collide
The Strongest Tightening Shock Since 2023
Oil Is Driving Everything
The Oil Trade Everyone Owns — And That’s The Problem
After “Banks Breaking Bad,” Is This Just A Dead-Cat Bounce?
Oil’s Panic Rally Shows Signs Of Exhaustion
Gold Breaks $5K As The “Safe Haven” Narrative Cracks
"Europe to be hit by an inflation tsunami"
8 Charts Challenging the ‘Buy the Dip’ Narrative
EM On The Edge: Record Buying Meets Rising Oil And Exploding Vol
“As The Banks Go…” – And Right Now They’re Breaking Bad
SPX Stuck In Range As The Big Short Builds
Dollar Breakout, Euro Breakdown
Korea Abandons KOSPI… Starts Chasing Bitcoin Again
Retail Is Piling Into Energy At The Top
Rates Volatility Erupts, And Stocks Should Be Nervous
VIX tends to peak and SPY trough in mid March
Searching for signs of capitulation
Oil Chaos, Déjà Vu Signals, And Gold’s Hedge Problem
Gold Isn’t Acting Like A Hedge
Déjà Vu: The Setup That Triggered Last Year’s Selloff Is Back
When Oil Trades Like A Meme Stock, Something Isn’t Right
Oil Volatility Is Exploding — And Something Is Starting To Break
Putin’s Ghost Haunts Europe Again—But The Setup Isn’t 2022
Oil “VIX” At 121 — Markets Aren’t Pricing De-Escalation
Oil Chaos Is Crushing Europe
Silver’s Bubble Is Still Deflating
Oil Volatility Is Running The Market
Everyone Long Energy — Now What?
VLCC rates above COVID highs. Jet fuels hit record highs
It ain't over till the fat derivatives lady sings
Oil Volatility, Short Gamma, And A Fragile Market
Korea Trades Like a MEME Stock — and an Oil Vol Proxy
The Calm Market Illusion
Still Stuck — But The Market Just Became Very Fragile
Crude: The New Meme Stock?
More Charts From The Software Panic & Bounce
Everybody Wrong
Hammer In Stocks, Shooting Star In Oil
Software Is Extremely Cheap — Another Squeeze Coming?
Extreme Fear Returns — Stocks Still Clinging To The Range
MOVE Is Back: Stocks Should Pay Attention
Mission Accomplished: Oil Just Printed A “Shooting Star On Steroids”
From War To Wheat: Hormuz Disruption Ignites Food Inflation Fears
Europe is back! (Flirting with recession)
Monday Mayhem Setup: MoMo Crash, CTA Sell Signals And Retail Still “Buying The Dip”
Oil Shock: 17x Larger Than The Russia Supply Hit
How Much Selling Did We Actually See Last Week?
What A Week!
Oil Volatility Hits 103 — Global Panic Builds
Oil Panic: Volatility Explodes As RSI Hits Kuwait War Levels
Oil Shock Meets Bond Volatility — And 4.2% Is The Line In The Sand
Silver’s Speculative Blow-Off Is Still Unwinding
Gold Is Stuck — Oil Panic Is The Real Crisis Trade
"The inflection supports our call for decade-high US Industrial growth into 2H'26 & 2027"
Missiles In The Headlines, Brunch In The Malls
Exploding Oil, RoW Panic, And A Violent Software Squeeze
Software Shorts Carried Out On Stretchers
Korea K-rashing As EM Volatility Explodes
Europe Breaking Bad As Volatility Explodes
Everyone Loves EM — Just As Volatility Explodes
Oil Breakout Meets Extreme Geopolitical Risk
The Attack On Europe
Hyperscaler capex already accounts for ~10% of US gross capital formation
Stocks Still Stuck — Oil Volatility Remains Elevated
Bond Volatility Just Woke Up — Stocks Usually Don't Like It
Wall Street Is Massively Long Semis — And Massively Short Software
Signaling an “Attractive” Set-Up
Bitcoin Is Quietly Brewing
Parabolic Moves Never End Well — The KOSPI Bubble Just Found Out
The Grand Old Man Of Strategy Warns: "Near-Term Risks Are More Elevated"
The Grand Old Man Of Strategy Warns: "Near-Term Risks Are More Elevated"
The Surface Is Calm. The Structure Is Not.
Korea’s Leverage Trade Just Blew Up
Volatility Shock: Panic Is Spreading
Oil Volatility Explodes As Markets Brace For A Bigger Shock
Did Gold Just Print a Blow-Off Top?
The European Unwind Has Begun
KOSPI’s Parabolic Bubble Meets Forced Liquidation
Largest Amount of Put Protection Ever
Oil Overbought, Hedging Extreme, Dollar Testing Breakout
Downside Desperados: Panic Bid For Crash Protection
Silver Mania Just Found Sellers
The Dollar Everyone Hates Is About To Squeeze
Either Commodities Are Wrong — Or Inflation Is About To Matter Again
Oil: $75 Is Noise. $100 Changes Everything
Oil: $75 Is Noise. $100 Changes Everything
Big Tech´s Largest Underperformance Since Mid-2024
Everyone’s In, No One’s Sure
Cyclicals vs Defensives Had the Worst Week of the Year
Are We Still In the Early Innings of a Massive Emerging Market Rotation?
The 15 Charts That Should Make You Uneasy
EWY Weekly RSI 90 — Parabola Territory
Is Something Cracking Beneath The Surface?
The Energy Squeeze Isn’t Done Yet — Oil Is Setting Up
The Most Crowded Trade In Tech Is Starting To Unwind
Credit Rarely Moves First Without a Reason
Made in Korea: Volume, Vol and Leverage At Extremes
The Curious Case of Cheering for German Military Spend
The Squeeze Is Rotating
Nothing NVDA — But Something’s Shifting Beneath The Surface
Silver: Miners At ATHs, Skew Exploding — Breakout Or Violent Unwind?
Record Underweight, Massive Short, Historic Oversold — Software’s Explosive Setup
Private Capital’s New Liquidity Cycle
The FOMO Class Now Boarding the Seoul Train
When Everyone Buys Puts…
RSI 89. Vol Spiking. And Still Cheap?
Massive Weekly Hammers: Crypto Defends the Line in the Sand
Inflation Is "Gone"… Until You Look At Commodities
Fed Enters AI Panic As Tech Sits On Massive Support
A Turning Point Approaches for Big Tech Spending
AI Fear Peaks, Software At GFC Extremes — Right Tail On Sale
The Rise of the Robots
The AI Trade Didn’t Die, It Moved To Korea
Apple Becomes The AI Hedge — And The Squeeze Is Building
The Software Breakdown: Massive Volume, Extreme RSI, Panic Term Structure
Silver’s Broken Vol Market Meets Structural Demand Risk
Crowded Semis, Gamma Gone, Squeezy Gold
Remember What Markets Did Last Year? It’s Setting Up Again.
Gold Breakout Or Blow-Off? Monthly RSI 96 As Dealers Fuel The Rally.
XLE Shorts Carried Out On Stretchers As Oil Breaks Trendline
Semis: The Most Crowded Trade On The Street
Heavy De-Risking In A Stuck Market — Is The Pain Trade Higher?
Everyone Is Hedged. That’s The Problem.
Underestimate This Economy At Your Own Peril
More extended hedge fund positioning meets Trump's new tariffs
Moribund & Maligned or Maturing & Mispriced?
Will We See The Normal "Stock Down Vol Crushed" Post NVDA Earnings?
Extreme Shorts
Second Largest Sale Ever
Over-Hedged Markets, The Capex Paradox, And A Brazil Squeeze
Nobody Owns The Right Tail
Bull Do Brasil — Druckenmiller Is Already In. Are You?
The Capex Paradox: Who Funds AI If AI Stops Paying?
Roaring Russell, Richer Skew And Diverging Vol — Something Is Brewing Under The Hood
Goldman’s Dominic Wilson Says the Cycle Still Has Room to Run
Goldman on Gold: The Risk of a Margin-Related Liquidation Sell-Off
The Best Offense Is a Good Defense
Fragile Tech, Vertical Korea, And Exotic Carry
A Little Lower… And It Gets A Lot Worse
Software At The Edge: $80 Or Air Pocket
No Substitute: Uranium At The Center Of The AI Power Shock
3 Oil Charts We Are Watching
KOSPI Beast Mode: Another +3%
Fancy Frontier FX?
Global Yields At Critical Inflection Levels
Rare Internals, Crowded Dollar Shorts And A Brewing Oil Squeeze
Everyone Is Betting Against King Dollar
The Oil Squeeze Setup Is Building
The Market Looks Calm — That’s The Trap
A Bullish Letter from Corporate America
The Startups That Wish for War
Cash Burn, Tech Stress — And $134BN Of Selling Risk
Apple — Is The Anti-AI Trade Starting To Work?
The Market Has A Downside Convexity Problem
The AI Trade Is Being Questioned
Under-The-Hood Panic Is Building — And Spreading
Are You Software in Disguise?
Silver Mania Is Over — And The Late Bulls Are Trapped
Life After Goldmageddon – Boring Is The New Up
The Dangerous AI Trade
Europe Continues To Trade With A Steadier Rhythm
Global Growth is About to Pick Up Big Time
This Earnings Trend Is A Bulls' Best Friend
Systematic Tsunami: BofA says there could be $130bn of selling this week
MEME 2.0: Traders at the Casino
SaaS At Zero Percentile
Eating All The Cash: Hyperscalers Spending 92% of Cash Flow on Capex
NASDAQ On Edge, CTAs Lurking Below — And Fear Still Elevated
Fear Running High Into The Long Weekend
Bounce Or Breakdown?
SPX Hates Rising Bond Vol — And MOVE Just Woke Up
AI Panic Crushes Software — But Is The Market Dead Wrong?
"We haven't seen anything like this since the dotcom bubble burst..."
When the (AI)iens invade
Same Setup As Last Year — And It Didn’t End Well
Stressed Silver Slips
Remember Fear?
The Mag 7 Setup: Chop Now, Violence Later
While You Watched NVDA, Korea Built A Monster Bull
$666bn For GPUs, $250bn For Cures: Welcome To Peak AI Insanity
King XLE: Squeeze, Surge, and a Full-Blown Re-Rating
Flat Index, Violent Rotation, Stressed Tech
The Calm Is a Lie. Tech Stress Refuses to Mean-Revert
Oil Calls Aggressively Bid — Squeeze Loading?
Gold Just Flushed $13.7BN — And It’s Still Standing
JPY Carry Time Bomb: VIX About To Detonate?
CBO Says Immigration To Return Back Up To Historic Levels
25% Growth (!) EM Just Got Even Louder
Surging Skew, Stabilising Software, Stalling Silver
Software Puked. Shorts Are Crowded. Bounce Is On
Life After Silvergeddon: Bagholders, Broken Vol and a Fading Bounce
Tether Is Quietly Becoming a Gold Whale
11 Charts Why EM Is Crushing It
3 Gold Charts We Are Watching
Risk Is Packed, Credit Is Crowded, Protection Is Thin
Software Capitulation Meets a Violent Rotation
Vol Is Calm on the Surface — Tech Stress Isn’t, and Skew Knows It
Everybody Hates Software — And That’s the Setup
Three Charts to Watch: What If MOVE Starts to Move?
When AI Runs Hot in Asia, BTC Loses Its Bid
King Russell, Broken Tech and Violence Beneath the Tape
From Tokyo With Love: Yields Threaten Another Squeeze — Gold Is Watching
ATH While Everything Else Wobbles: Pharma Is The New Safe Haven
Doubling Up On Europe: From "Less Bad" to Actually Interesting
Is Tech Screamingly Cheap Now?
Tactical Upswing Confirmed
The IPO Window Is Reopening. And This Time It’s AI, Musk, and a Trillion-Dollar Question
Bubble Behind: US Tech Stocks Now Trading at 5-Year Valuation Lows
A Flush Without a Cleanout
King SOX Flexes. Software Hits Do-Or-Die. Gold Cleans Out Excess.
Do Or Die For Software
Gold Cleans Out The Excess Without Killing The Trend
Déjà Vu Is Getting Dangerous — NASDAQ Replays The 2025 Breakdown
Stress in Software Begins to Surface in Credit
Crowded Semis, Software Smoked, Silver Slaughtered
Bitcoin Gets Massacred: Narrative Dead, Structure Broken
Checking In On The War Defense Trade — And The Squeeze Is Gone
Goldman Compares Software to Newspaper Stocks
Post-Silvergeddon: Bagholders, Broken Vol, And Bidless
Carnage — The Momentum Puke Is Bigger Than DeepSeek
Say Hello To $70k — Bitcoin’s Software Meltdown Is Accelerating
Europe Begins to Find Its Footing, Perhaps...
Thinking About Bottom Fishing in Software
Tech Stress Explodes
Tech Cracks, Stress Explodes — But Software May Be Hitting Exhaustion
Software Smoked — RSI at 16.9
Precious Metals: What Comes After the Bounce?
Software Panic Hits 2011 Extremes — Mean Reversion Signals Are Triggering
A Few Old Gold Bulls Crawl Back Out of the Bunker
Software Exodus & Small Cap Tech Flush
Battered BTC — From Obsession to Apathy
Software Cracks, Credit Blinks — SPX Still Pretends as Downside Convexity Builds
Gold and Silver Bounce — Dead Cat or Reload?
Asia Is the AI Sweet Spot — NVDA Is Yesterday’s Trade
Tech Is Still Up—But the Internals Are Breaking
10 Reasons Why We Are Bullish Europe
Precious Indecision, Dollar Power and Seriously Long Systematics
The Boring Bull Case No One Wants to Hear
The Dollar Comeback
From Parabolic To Panic: Korea’s Trading Frenzy Breaks
Trump-Coin: Backed by Approval Ratings, Volatility, and Vibes
Silver After The Crash: No Control, No Conviction
Gold Approaches First Key Support — Will It Hold?
Something Bad Is Lurking Under the Surface
From Melt-Up To Margin Call: Precious Metals Repriced
The Protein Trade: From Bodybuilders to GLP-1s to Wall Street
AI Capex Was Supposed to Peak. It Didn’t.
Everyone Is Long the Same Thing Again
Warshed Out — When Parabolas Break, Nothing Else Stays Standing
No Shorts, No Cash, No Protection
Soggy BTC: $80K Is Make-Or-Break
Silvergeddon Unleashed
Gold’s Resonance Just Broke — Vol Screams As Late Longs Pile In
Microsoft and Software Get “Epsteined” And Leaving a Trail of Suicide Notes
Black Gold, Lazy Longs And Shanghai Hoards
Supply Rises Fast Below The Tape
Oil Blows Through The 200-Day As Upside Panic Kicks In
Everything Goes — Again
Goldmaggedon: From Shanghai With Love
The Return of the King of Detroit
SPX Stuck While The Rest Of The World Melts Up
Is This Really A Dollar Breakdown?
Range-Bound Stocks, Restless Vol
The (Very Old) Empires Strike Back
Asian AI Bullies Bitcoin And Leaves NVDA Behind
EM On Fire: Upside Panic Takes Over
Why There Is Still Juice in the Tax Trade
Brazil Bonanza
Dollar Breaks, Gold Gets Crowded and Asia Runs AI
Watching Gold Volatility Is Key From Here
JPY Rate Check, No Checkmate — No Vol Panic
It Will Take Years for Housing Affordability to Normalize
Asia Is AI
How to get to 6666 in Gold
"The Need to Future-Proof": Goldman Partner on the Current M&A Boom
JPY Risks, VIX Shorts & Silvergeddon
Silvergeddon
Gold Vol Finally Panics — What’s Next?
Doomed Dollar’s Delicate Moment
JPY Risks You Must Watch
Europe Wants AI. It Can’t Plug It In.
Europe’s Achilles Heel: Too Much Momentum
Déjà Vu Is Back: Fading Momentum, Massive Systematic Longs, Serious Downside Convexity
EU Luxury: A Tactical Bottom or Continued Hangover?
Short Vol, Long Leverage, Buy the Dip — A Recipe for Disaster
Meltdown Melancholy & Mad Volatility
Hard Assets Hot, Yen Breaks, Rates Still Asleep
Russell Takes a Much-Needed Pause — But The Bull Isn’t Done
3 JPY Charts To Watch
What If That Second Wave of Inflation Is Upon Us?
Bull Do Brasil
Something Is Wrong in Rates
Big in BCOM — This Is What a Real Breakout Looks Like
Incredible MOVE — Why Falling Bond Volatility Matters
Russell Breaks Out as AI Heats Asia and Gold Panics
Gold Vol Panic Builds as Retail and CTAs Pile In
From Squeeze to Slam — Defense Momentum Breaks
Russell — Overbought, Overlooked, Overperforming
Asia’s AI Engine Is Red-Hot While the West Chases NVDA
Do Bad Charts Fix Good Stocks?
Growth Is Back. So Is Potentially the Inflation Problem
Golden Reversal Meets Golden Upgrade
SPX Stuck — Silver Soft, Gold Stretched
Golden Reversal — Blow-Off Starts?
Bitcoin’s Myths Are Breaking — Hedge, Store of Value, Now Quantum Risk
The Mag 7 — Heavy, Tired, and Still Soggy
Silver Looks Untouchable — But Indecision Is Creeping In
Déjà Vu? — This Is How It Started Last Time
Should You Take a Bite of the Rotten Apple?
VIXplosion — What Now?
Everything Goes — Cross-Asset Selling Hits Fast
Bond Vol Goes Brutal — Biggest Shock Since “Liberation Day”
Gold Thrives as Japan’s Bonds Break — Geopolitics Add Fuel
VIX Goes Violent — Investors Still Treat Protection Like It’s for “Suckers”
30Y JGBs in Full Panic Mode — Global Spillovers Have Started
Highest Expectations in 15 Years
Surging Silver — AI Eats the Moat, Credit Picks Up the Tab
Super Silver Is Exploding — Don’t Look Away
Roaring Russell — Too Much, Too Fast?
Upside Rates Panic — Japan’s 10Y Is Unhinged
Everyone’s Long. Charts Are Rolling. Vol Is Waking Up.
Tariff Talk Is Loud. Europe’s Turnaround Is Louder.
Meta-verse became Meta-wide
AI Ate the SaaS Moat
Femcels & Fentanyl
That Was the Soft Launch - Now AI Is Leaving the Screen
The Risk-On Reflation Trade Is Back
Calm Is Crowded — Contrarian Sell Flashes Red
Vol Is Dead — And That’s the Opportunity
Silver 100%+ Above the 200-Day — Vol Sets the Trap
MAG 7 Is Tired: Only One King Left Standing
They Seek It Here, They Seek It There...
If You See A Bubble - Ride It
SPX Is Trapped — Bulls Take Over, Bears Gone
Small-Cap FOMO Is Exploding — Russell Breaks Out, Crowd Wakes Up
Could Rates Rise From Here?
Silver Has Entered the Danger Zone — Volume Explosion
Amazon Trades at a Discount to Walmart — Let That Sink In
3 Bond Vol Charts We Are Watching
Small Caps Take Control as Big Tech Wobbles — Vol Warns, Silver Goes Wild
Range Highs Bite Back — NDX Triple Top as VVIX and Skew Whisper Trouble
Silver Has Left the Building — Vol Is Broken, Ratios Are Crashing, Bubble Alarms Are Screaming
Gold Keeps Ripping — But Bubble Signals and the Dollar Gap Are Flashing Red
Chasing Oil, Silver, Dollars, US Futures and VIX
The Calm Is Lying
Dollar Charts That Matter Right Now
Oil Is Breaking Out — And The Crowd Isn’t In
From Japan With Chaos — The Yield Shock No One Wants
VIX Shorts Are One Shock Away From Forced Buying
Will India Get Revenge?
400 Professionals. One View. What Could Possibly Go Wrong?
China Tech Squeeze Is On, Metals Go Full Upside Panic
Luxury: Under-Owned, Under-Loved, Turning
The Super Silver Squeeze — Extreme Momentum, Crowds Still Missing It
Gold Won’t Stop: New ATHs, RSI Extreme, Still Under-Owned
China Is Squeezing: 17 Up Candles, Tech Ignites
"Do you really want to pick a fight with this trendline?"
How Stretched Is Positioning?
Europe's Bull Case Is Still: "It Can Only Get Less Worse"
The Good, The Bad and The Ugly on Valuation
The 15 Fundamental Charts That Caught Our Eye
Breakout or Bull Trap? Valuation Hubris Means No Room for Mistakes
Europe's Energy Transition Is Entering a New Phase
King Dollar Breaks the 200-Day While Funds Flip Short — Uh Oh
Oil Just Snapped the Downtrend
The Offense in Defense Is Getting Crowded
Schhh — Shanghai Soaring
Old Grumpy Economists See Recession. Sexy Miss Market Sees Acceleration
Late Cycle, Elevated Valuations — And Goldman Is Still Bullish
The Easy Trades Are Getting Hard
Small Caps Are Breaking Out While Everyone Watches Tech
Everyone Hates The Dollar — That’s The Problem
Tech Goes Nowhere As Stress Quietly Builds
Silver Euphoria Meets Reality
The AI Ate My Buyback
Emerging Markets For Dummies
VIX Is Too Quiet At The Wrong Time
Everything Looks Fine… Right At The Range High
The Panic To Defend
Forced Selling Is Coming For Gold And Silver
Everything Looks Bullish… Right At The Range High
"S&P is higher in nearly 9 out of 10 years when GDP is growing; bull markets usually end with hikes, not cuts."
The Start of Something Huge? Goldman Sees 20% Upside in China
Reflation Signals Are Spreading — Commodities, Silver, China
Silver on Steroids - Can’t Keep a Good Man Down
Remember Oil? The Most Ignored Reflation Trade
No Inflation… Unless You Need Commodities
Bond Vol Is Dead… Long Live Bond Vol
China Is Breaking Out, The Forgotten Market Is Ripping
Positioning Remains Supportive, but of Course No Longer Light
This Bitcoin Chart Is Triggering Squeeze Déjà Vu
Precious, Oil, Crypto, AI, Defense — Everything Is Squeezing
Unstoppable: Japanese Rates Keep Climbing
War Risk Is Back on the Tape — Defense Stocks Explode
Silver: Bubble, Blow-Off, or Something Bigger?
Silver: Bubble, Blow-Off, or Something Bigger?
Gold Is Setting Up Another Leg as Seasonality Turns Sweet
Asia’s AI Risk-On Siren Is Blasting, Again
Five Bullish Signals to Start the Week
Germany Is the Problem
The Greenback’s Problem: What Happens When the Inflows Stop?
Could Drop 99% and Still Beat S&P500
From Mom’s Basement To $6bn In 12 Months
Europe Rallies, Hedge Funds Sell Anyway
When Boardroom Animal Spirits Are Unleashed, They Don’t Stop Quietly
Mag7: One Last Look Before the Year Ends
Silver Goes Full Metal: 1979 Vibes
Gold: $31.5 Trillion, New Highs, And Still “Early”?
The AI Ouroboros: Big Tech Eats Its Own While Capital Loses All Meaning
A 10-Signal Cluster-F*ck
Santa Is Late, Not Dead — And Positioning Says There’s Ammo Left
The Vikings Just Killed Santa
Five Quiet Signals Suggest the Bull Case Isn’t Done Yet
Silver Is Flying, But Options Say Slow Down
The Great Vol Smash
Trust the Perfect Netscape Trajectory Or the Flashing Sell Signals?
Bond Vol Is Screaming ATHs for SPX
Positioning Isn’t a Problem - But Margin Debt Is
Rangebound Markets, Extreme Metals, and Late-Cycle Warning Signs
Gold: Under the Hood, Upside Panic Is Huge
Silver: Record Overbought, Volatility at Extremes
AI: Not a Bubble, But Not a Free Lunch Either
The World’s Hottest Stocks Have Gone Nowhere
From Sexy To Soggy: SOX Is Breaking At The Worst Possible Time
The Latest on Positioning
Japan’s 10Y Is Running the Show And Markets Should Be Nervous
Commodities Back at Support: Second Chance?
Crowded Shorts. Cash Gone. Big Bid About to Fade.
Interest Costs Are Exploding And Yields Are Still Rising
Everyone Owns Semis, Nobody Owns Software: Guess What Happens Next
The AI Trade Is Losing Its Footing as Asia Flashes Red
Everything Ex-Hot Is Getting Sold
Bitcoin’s at the Edge: Who’s Gonna Buy?
Gold Goes Vertical — Again?
The Japan Rate Shock Is Hitting AI
The AI Trade Wobbles: Asia’s Bellwethers Flash Yellow
The Long End Revolts — You Should Be Nervous
AI Was the Trade, Now It’s the Problem
This Is How Rate Accidents Start
Everything Is Bullish Except the Price
Gold Is Loading at ATHs While Volatility Sleeps, This Is How Squeezes Start
Double Top Déjà Vu or the Squeeze of the Year?
Russell Rips, Silver Explodes, AI Wobbles
Silver Shorts Carried Out on Stretchers
AI – Dream or Delusion? The Cracks Are Getting Hard to Ignore
Small Caps Go Beast Mode
Russell Roars, SPX Squeezes - and With No Bubble…
Cold Crypto Breeze - No Buyers, No Flows
This is The Cheapest Hedge in AI/Global Macro
VIX Sleeps, MOVE Moves - Who Do You Trust Into FOMC?
SPX Stuck, Rates Unstuck, Silver Panics
Gold’s Catch-Up Moment? Vol Cheap, Firepower Untapped
Silver on Fire: Vol Bid, Skew Explodes, CTAs Chase
If You Want Peace, Prepare for War: Europe Is Re-Arming
Rates on the MOVE - And the Market Isn’t Buying the Fed
Sell Low, Buy High - And Ignore the Code Red?
From Agony to Euphoria - But First Watch These Charts
3 Bond Charts We Are Watching
AI’s Forgotten King Roars Back
Europe Edges Higher as the ‘Less Bad’ Narrative Holds
Banks, Bankers & Breadth - Breakouts Everywhere — Choose Your Mania
A 3 Sigma Week: When Everyone Hit the Risk Button
Big China Flows Exit… Just as the Charts Start to Turn Up
Altman Goes Full YOLO While China Builds Top-Tier AI for Pennies
Markets Are Heating Up Everywhere - Except in the Trades People Worship (BTC, NVDA)
30Y Breaks Out, TLT Breaks Down - Strap In
Commodities Are on Fire - Breakouts Everywhere, Oil/Energy Up Next?
Gold’s ATH Setup Is Here: Explosive Seasonality Meets Surging JGB Yields
SPY Shorts, Crap Squeezes, and Asia’s Wild Tails
US 10-Year Keeps Trying, Yield Gaps Rip Wider, and Treasury’s Interest Costs Close In
China’s AI Awakening: A Coiled Market Ready to Rip
The Widowmaker Awakens: JGB Panic, Yen Surge, and a Global Deleveraging Trap
America’s New Housing Fix: A Mortgage You Can Die With
Today We Choose Violence: The Anti-Narrative Edition
The Wrap: Rotations Heat Up - and Volatility Sleeps… For Now
The Charts Keeping Us Awake at Night
Vol Panic Dead, Protection Puked - Now VIX Seasonality Sets the Trap
Japan’s Yield Surge Is No Local Story - Remember What Happened to the NDX Last Time?
The Wrap – Divergences Everywhere: Rates, Vol, AI, Crypto, Gold
Bitcoin Bros Are Back?
Gold $5k – Surging Flows and a Market Still Massively Underweight
Remember Rates in October? The Setup Is Back
The Wrap: SPX Stuck, BTC Cracks, Silver Screams, and Japan’s Bondquake Spreads
China Tech Wakes Up
Sexy Silver’s Squeeze 2.0
Bitcoin’s “Everything Hedge” Myth Dies: JGBs Blow Out, Trend Breaks, Death Cross Hits, and MSTR Turns Toxic
Bondquake in Tokyo - Yield Spreads Hit Absurd Extremes, Something Has to Break
10 Things Not to Be Thankful For This Monday Morning
"This may bode well for both upside and market breadth"
Europe Claims It’s “Recovering” — The Charts Say It’s More Like Crawling Out of a Hole
AI Wants Your Job — And Now It Wants Your Electricity Too
The 10 Charts We Are Watching This Saturday
The Wrap: AI Darlings Don’t Buy the Bounce - But Metals Sure Do
Gold Breaks Out. Silver Explodes. Volatility Erupts. Are You Still Flat?
Thanksgiving Coma: Fear and Panic Both Passed Out
If AI Is Really Booming, Why These Divergences?
Fear Implodes - What’s Next When Vol Dies and Bargains Emerge?
Soggy Asian AI - But Is This Re-Load Time?
The Wrap: Big Short Meets Big Buy and a BTC/VIX Plot Twist
It Was Useless as a VIX Hedge - Now Does BTC Rip as Vol Collapses?
Gold Breakout Brewing: Central Banks and Retail Are Loading Up
Healthcare Mania - Hedge Funds All-In, XLV Most Overbought Since 2018
Panic Out, Panic In - Heavy CTA/Short-Gamma Selling Followed by the Largest Two-Day Buy in Months
The Wrap: Keep It Simple - Just Follow the 10-Year
Gold's Consolidation Ending? Skew Suggests Squeeze
Google's GPU Killer - Phase 2
Fed Cuts > AI - The Only Thing That Matters
The Dog That Didn’t Bark: Asia’s AI Sentimentors Stay Dead Cold
The Wrap: Just Buy It – Bottom-Shorting Meets Shitty Liquidity
They Shorted the Lows Again – Max Pain Market
Google – From “Search Is Dead” to “TPU Beats GPU”
BTC Bleeds – Death Cross, Outflows, and Shitty Liquidity Collide
Corporate Animal Spirit Is Back
From Market Darling to Macro Dead-Weight: Germany’s 2025 Dream Unravels Fast
AI Megacaps Throw Off New Warning Lights — Or New Fuel — Depending on Your Religion
We have not seen Goldman this bullish China in a long time
Was That the Last Flush?
Market Flush, Gamma Chaos, NVDA Hammer, Santa Window - This Is the Setup
MAG Charts to Watch - Big Levels, Big Decisions
Systematics on Edge - Short Gamma Pain, but NVDA Still Runs the Market
Asian AI Darlings Crack - KOSPI Volatility Blows Out
Bitcoin: Store of Value? More Like You’re Shorting Volatility Without Knowing It
The Wrap: Semis Break, Skew Screams, and Cash Is Gone
Fear Explodes, Japan Melts Down And Massive Systematic Downside Convexity Looms
China’s AI Edge: Infinite Power, Infinite Upside, Superior ROI
Tokyo Bondquake - Bond Volatility Screams “This Isn’t Contained”
The AI Bubble Exposed
The Dollar Breakout - Bears Trapped as DXY Closes Above the 200-Day
The Wrap: The Big Long, The Big Short, The Big Fear
Bitcoin Bids Wanted
The Surge In Fear
Japan 30Y Breakout Moves Everything - AI, Crypto, Gold, Even NVDA
The Wrap: Volquake: Puts Explode, MOVE Screams, Tech Spreads Snap
Gold’s $4K Line Holds - Again
Fear Is Back - So Is Put Love
Asia’s AI Darling Just Blew a Fuse
The Wrap: Trend Lines Snap, Small Tech Smoked, CTAs Sweat
Bondquake in Japan - VIXquake in the US
Tech Hedges Bought, NVDA Nervous, Downside Convexity Lurking
Healthcare Wakes Up - Biggest Bid in 4 Years
Bitcoin’s Oversold, Hated, and Sitting on Support - Perfect.
Closing the Gap: Europe’s Quiet Return to Competitiveness
AI, GDP, and the Bull That Forgot to Breathe
Fart Coin Better Than Melania Coin
The Wrap: Nobody in Control
Friday Déjà Vu: Short Gamma’s Sell-Low/Buy-High Agony Returns
Gold’s “Fear Hedge” Dies - VIX Explodes, Gold Implodes
First Trend Breakdown Since May: 50-Day Snaps
AI’s Asia Meltdown - KOSPI Cracks, SK Hynix Gets Nuked… and the Spillover Risk Is Massive
The Wrap: The Puke - Small Cap Tech Crashes, Vol Pops, Crypto Cracks, Gamma Bites
Lower Highs, Exploding Bond Vol, Small Cap Tech Bleed… and CTA Downside Convexity Waiting Below
The LATAM Bull - The World’s Most Exciting Market Is Not Where You Think
Silver on Steroids - Upside Panic Is Back
Bond Volatility Soaring - Will It Spill Over to SPX?
Parabolic or not in AI
Keep Calm and Debt On - AI Borrows, Gold Gets Loud
Gold’s Furious Rebound
Europe’s Back - Breakouts Across the Board
Divergences We’re Watching
AI on Steroids - The Bubble That Refuses to Die
The Wrap: To AI, or Not to AI?
The Anti-AI Hedge: Apple Doesn’t Blink When NVDA Does
Bond Vol Explodes - Will SPX Notice?
European Banks Break Out: Powerful Squeeze, But Margins Whisper Caution
Revisiting Our Old Love With Obesity
Gridlock Stock And Two Smoking Barrels
The Wrap: Perfection Prevails - Shorts Maxed, Gold Wakes, Buybacks Blaze
Upside Pain: Shorts Built, Calls Burned, Dealers Flip
Gold Wakes Up: Big Sellers Flushed Out in the Puke
The AI Cartel: Miss Market, McKinsey & Goldman All In
When Everyone Believes the Same Story
Europe hums on a low-vol track
Teen Growth and the Double Club
Hammer Time: Friday’s Fear Flush May Have Marked the Low
Miss Market’s Mood, in 18 Charts
The Wrap: Suddenly Oversold, Shorted, and Systematically Sold
Say Hello to the 50-Day — NVDA’s $650 B Flush and Vol Wakes Up
Asia’s AI Bubble Just Blinked - Spillovers Coming Fast?
The Wrap: Bubble, Buffett, and Borrowing - Tech’s Triple Threat
Make-or-Break: NVDA’s $190 Decides the Market
How Artificial Intelligence Became the Market’s Real Religion
Dare the Rare? The U.S.–China Decoupling Trade Still Underpriced
Bitcoin’s 50-Week Test - Bounce or Breakdown?
If China’s Only a Nanosecond Behind - KWEB Calls Offer Massive Upside
The Wrap: Fearless Market, Fading NVDA
Cisco Was the Bubble. Nvidia Is the Market.
10-Year Breaks Out - MOVE Still Fearless
The Fearless Sell-Off: No Panic, Just Pain
EEM - Dollar Bid Wrecks the Tech Proxy Trade
The Wrap: Everything’s Stretched — Fear High, Valuations Higher, Downside Convexity Explosive
Gold on the Edge - $3900 or Bust
The Wrap: Somebody’s Gotta Pay for the AI Party
Mag7: The First Sell Signal in a Year
Boring BTC – The Magic’s Dead
When NVDA Looks "Poor" – The Real AI Mania Has Moved East
Let Them Eat LLMs
Are We Running Out of Equities?
Are We Running Out of Equities?
Positioning and the MAG7 Right-Tail Panic
Europe: The Trade Everyone Forgot, Still Winning
Goldman hedge fund honcho: "The current setup is admittedly demanding"
The Last Time Tech Looked This “Can’t-Lose,” It Did
The Wrap: Everyone’s Bullish the MAGs — What Could Go Wrong?
EEM – Weak Dollar? Think Again
TLT Trouble? — Calm Volatility Meets Inflation Fear
Dollar – The Cross That Matters
The Wrap: MAG Reversal - Too Much, Too Fast?
Super Tech, Super Stretched – Right Tail Gone Wild
The Gold Puke Pause
The MOVE Massacre
Berkshire’s Crossroads: The Oracle’s Old Economy Meets the Age of AI
The Holy Grail of Cancer — or Just Another Market Cult?
The Wrap: Fed Cut FOMO – Spot Up, Vol Up
Forced To Buy: AI Mania Goes Parabolic
$5 Trillion Beast – NVDA Eats the Industrials
The Wrap: FOMO Froth – Right Tail On Fire
Don’t Fight Retail: They’ve Poured In Nearly $300BN Since April
The Precious Puke – Levels To Watch
Small Business America Is Quietly Bleeding Out
Wall Street’s Great Emotionless Drift
After a Decade of Despair, Europe Rediscovers Its Pulse
The Wrap: Magic MAGs, Gamma Gaps & Fearful FOMO
Silver’s Puke - Chased Calls, Crushed Dreams
The Great Gold Crash
The Most Stretched Market on Earth
Post-Power Talks: Dragon’s Back, Techs on Fire
Fab Five Fundamentals
Too Pessimistic? Mag7’s Low Bar and Rising Right-Tail Risk
The Wrap: AI ATH - Climbing the Wall of Worry, Fueled by Fear
AI Euphoria Reloaded - Imagine We Go Full 1999
Gold: If This Is the Bounce — Imagine the Next Leg Down
The Other AI Superpower — China’s Innovation Bull Is Back
The Wrap: Market Still Stuck, Ready to Explode – Upside Pain Next?
Remember Oil? - The Shorts Sure Do
Gold – Healthy Reset or Just Overcrowded?
The Wrap: Range-Bound & Restless — Vols Bid, Momentum Cracks and Bubbly AI
Precious Levels To Watch
Déjà Vu: The 2006 Gold Surge Ended With a 30% Crash
Gold: If There Were Signs… Well, There They Were
The Wrap: Everything Is Weird — From Precious Puke to AI Fatigue
Silver’s Melt-Up Meets Gravity - The Party’s Over
Enough Is Enough - Gold’s Euphoria Turns Dangerous
The Wrap: They Puked the Low, Now It’s Melt-Up Mode
Upside Panic Reloaded: Gold Monthly RSI Hits 93!
Santa’s Coming - And “They” Just Shorted the Lows
Fab Five Fundamentals
Wall Street Acted Like It’s a 10% Sell-Off
A Golden Madoff? Sharpe of 4 - a level usually reserved for financial fiction
The Wrap: Can’t Keep Bulls Down
Gold Mania - Everyone’s In, What Could Go Wrong?
3 Charts On The Recent Volatility Explosion
SVB 2.0? SPX’s 50-Day Breaks as Vol Erupts
The Wrap: Welcome to Extreme Fear
Liberation Day Panic Vibes - VVIX Back at Chaos Levels
Mission Accomplished? Gold Just Did in Weeks What Took Months
3 Bond Vol Charts We Are Watching
From Guns to Gucci - The Defense Trade Unwinds
AI High Turns Into Hangover? Capex Cools And Clicks Fall
The Wrap: Parabolic Gold, Stuck Mag 7, and Stressed VVIX
Europe’s Longevity Time Bomb: The Pension Ponzi Nobody Wants to Talk About
Can’t Put a Good Man Down: Volatility Refuses to Die
The Magnificent Stuck
Gold More Overbought Than the 1980 Upside Panic
The Wrap: Fragile Calm - Stress Stays Fearful
Russell Ripping - Perfect Shakeout, Monster Rebound
3 Fear Charts We Are Watching
China Tech Cracks
Fragile Markets - Friday’s Shock Still Haunts the VIX
The Wrap: TACO Trade Tested, Metals on Fire
Fab Five Fundamentals: We are so back
SPX on Thin Ice - Must Hold Soon or 100-Day Comes Fast
Broken Markets: Silver Volatility Goes Vertical as Pure Panic Kicks In
Flows on Fire: $26B Rush Into Gold ETFs
Climbing The Wall Of Worry In Europe
My 13 year old daughter went all-in on BTC Thursday
Fear Reignited — Equities Break Key Supports, Credit Cracks, Vol Surges
The Wrap: Here We Go — Volatility Monster Awakens, Leverage Bites, Bulls Bleed
Credit Cracking - HYG Sends a Warning Shot
China’s Magic Fades — Fast Money, Falling Stars & Fugazi Breakouts
The Wrap
Precious Metals — Momentum Junkies About to Get Burned?
Vol Surge = Reversal Signal? Gold & Silver Options Flash Warning Signs
King Dollar Awakens: Big Squeeze Above 99?
Have No Fear, There’s No Bubble, Says Sell-Side
The Wrap: Nothing Is Impossible — AI Mania, Gold Roars, Palladium Breaks Out
Palladium's Power Break Out
NDX vs 1999 — Can the AI Frenzy Go Full Nuclear?
Can’t Keep Gold Down: RSI Screaming, 200-Day Left in the Dust
The Wrap: Bulls Keep Dancing, But Momentum’s Fading
Calls Gone Wild: Bullish Bets Near Record Highs
King Dollar Awakens? Gaps, Shorts & Seasonality Collide
The Wrap: Kamikaze Yields, Gold Roars, SOX Melts Up
Sexy SOX: Overbought, Overloved, Overheating?
Bondquake in Tokyo
Fab Five Fundamentals
A Meloni Market
Gold Loves Tokyo’s Bondquake
Overweight - not morbidly obese
Largest Nasdaq/S&P Gap Since Dot-Com -Enjoy the Quality Melt-Up
The AI Boom That Ate the Economy
The K-Shaped Economy: Why America’s Bottom Half Is Falling Behind
Bond Vol Implodes, SPX Cheers
The Wrap: FOMO Mania Meets AI Nuclear Fever
SPX 7300+, FOMO and Melt-Up Déjà Vu
The Wrap: Calls Chased, Puts Puked, and Squeeze Manias
Bitcoin 'Undervalued' by at Least $50-60k
Unstoppable China Tech: Got KWEB?
Down Candles, Hanging Man & Shooting Star - Is Gold In Trouble?
The Wrap: Put Hate, CAPE Stretches, Metals Melt Up
Sexy Silver Surges as AI Needs Shine
Magnificent Miners Go Parabolic
Granolas: From Market Darlings to Value Play
Double Tops Loom as VIX Fragility and CTA Convexity Build
The Wrap: NVDA Smashes Resistance, FOMO Builds, Convexity Risks Loom
Gold Exhaustion? Shooting Star Flashes As RSI Screams Overbought
China Tech Breakout: BABA Leads, Sideline Cash Chases
The Wrap: Gold Roars, MOVE Snores, Upside Gets Gamma Violent
Hate the Politicians - Date the Stocks
Too Calm? Bond Volatility Dead While Gov’t Shutdown Risk Builds
Now Is the Time to Buy the Dollar
Gold’s $4K Magnet: ETFs Roar, Officials Keep Buying
Banker's Ball
Fab Five Fundamentals
The 10 charts you need to know this Monday morning
Is it too early to start talking about a year-end melt-up?
The Wall Of Worry: Melt-Up Now, Capital Destruction Later?
Soggy BTC: Nearing The 200-Day - Should The Market Listen?
The Wrap: Breakouts, Bruised Bets and Bubbles
So Far, Just a Dip – Or the Start of Something Bigger?
Parabolic Silver: Froth Meets FOMO
Who Needs AI When You Can Have Defense?
The Wrap: Can’t Put a Good Market Down?
Dollar Trap: Specs Short, Squeeze Brewing
BABA Boom Meets China’s AI Fever
Tiny Tech Bubble Vibes: Nothing Impossible, Right?
Nobody’s Hedged For Real Gold Panic
Big Pain In Small Caps
Euphoria Kicks In: Momentum vs SPX Looks Like 2020 All Over Again
3 Silver Charts We Are Watching
Gold: Another Day, Another ATH...Specs Still Don’t Get It
We Have Heard That Stocks Can Also Trade Down
Big Trouble in Little China
Fab Five Fundamentals
Retail Army Goes Parabolic: 10 Straight Green Days and Counting
Lower every time this happened
The Wrap: Brutal Bull - Overbought Everywhere
$6,600 Gold? History Says Yes
Kill Bond Volatility: MOVE Crashes, SPX Feeds
China Bull… But Most Missed It
The Wrap: Upside Panic - Russell Rips, Most Shorted in Carnage Mode
Gold: Overbought, Overvalued, Overcrowded
Dead Brand Walking? Tesla Goes Parabolic As Fundamentals Collapse
The Wrap: Weird NASDAQ Candles, Russell at Resistance
Roaring Russell Hits Resistance
China Tech Explodes: FOMO Next
Achtung: DAX Cracks Below Range
EM Mania Now, Mean Reversion Later?
The Wrap: FOMO Rally Faces the Fed
Gold into FOMC: Unstoppable, Overbought
The Wrap: Tech Buy-In Meets AI Mania
Put Seller Party: What Could Possibly Go Wrong?
Fed Cuts, Fed Fear Fuel Gold Fire
The Seven Charts Goldman's Macro Trading Team Are Watching
Fab Five Fundamentals
The drugs start to feel like they are decaf
$4,000 Gold - Conviction Buyers and the “Forever Bid”
The Wrap: AI Euphoria Meets Put Hate
AI Bubble Hype? Credit Says No
Decade of Pain, But Will Small Caps Bite Back?
3 Bond Volatility Crash Charts That Matter
AI Can’t Run Without Silver
All This Bull, Sentiment Still Stuck
Blocked – Bitcoin’s Back Door Slammed Shut
Speculation Runs Hot, China Can’t Cool Down
Swipe Now, Moon Later: Has Sweden produced a new Spotify:esque stock darling?
The Wrap: Beyond AI - Downside Convexity, Buybacks Rolling Over
No AI, No Alpha
Asian Tech Breaking Out Everywhere
The Wrap: Divergences Flash Red, China Tech Breaks Out
Generals Don’t Lie: Last Time, SPX Sold Off
China Tech: Is This The Breakout Moment?
Mighty Russell: Years of Pain, Now Payback?
Lumberrrr Crash — 3 Charts We’re Watching
The Wrap: Inverse Fear – Cheap Puts on the Tape
Fab Five Fundamentals
Gold Goes Parabolic as Fed’s Credibility Burns
Is the Narrowness a Feature or a Bug?
Where Are We on That European Tactical Long Trade?
The Rich Hate Cash, Retail Army Loves Tech
The Wrap: NVDA Crashes, VIX Seasonality Hits - Can Markets Stay Immune?
Gold's Gamma Squeeze Is ON
You Can’t Put This Bull Down — China Roars Back
The Wrap: $1.5Bn Daily Buyback Bid Vanishes Just As Bond Vol Explodes
If only there were signs...
China’s Market “Exponentialism” Just Got Halted
The MOVE Index Just Screamed a Warning. Did You Hear It?
The Wrap: Overbought Gold, Oversold NVDA — Two Giants at Extremes
Contagion Live: JGB Explosion Fuels Volatility, Gold Surge
Contagion Live: JGB Explosion Fuels Volatility, Gold Surge
The Wrap: SPX Breaks Down, NVDA Cracks $170
Gold Breakout Goes Relentless
VVIX Screams Risk — Crowd Still Short VIX
China’s All-In FOMO
Rising Yields, Rising Fear: Bond Vigilantes Return
Comfortably worst
CTAs Maxed Out Again at 100th Percentile and Would Have to Sell >$70bn Over the Next Month in a Down-Tape
From First To Worst
Fab Five Fundamentals: Follow The Money
3,451 Cracker Barrels
The Wrap: BTC Cracks First — Tech To Follow?
China Flows on Fire – Shorts Burning
EU Luxury: From China Proxy to Catch-Up Play
The Wrap: NVDA Stalls, China AI Soars, Gold Loads
Gold – Specs Sold, CTAs Forced to Chase
Russell's Revenge
China’s AI Bubble Goes Full Mania
Missing expectations for the first time
Keep Dancing… Until Yields Break It
Shorts and Sceptics Fuel the Russell Squeeze
VIX Shorts at Extremes – Crash Risk Rising
The Wrap: Can’t Put Russell or Gold Down
Gold – Tic, Tic, Boom
Dollar Death Cross – And Then We Ripped
China Roars, Bitcoin Snores, JGBs Soar
Managements voting with their shareholder's money
China: Mother of Breakouts, King of AI
The Bullish Ph.D Says Time to Take a Breather
Where are the bulls?
The "things can only get less worse" long trade in Europe
Do Or Die For Healthcare
If you see a bubble, ride it...
Better than Tech
Please mind the gap between the AI hype and reality
Everyone Short Russell… What Could Go Wrong?
Shanghai Squeeze – Upside Panic On
Emerging Markets: Travel & Arrive
The Wrap: AI Bubble = VIX Time Bomb
The Risk Everyone’s Missing
Greed and Fear on Steroids
The Kanye–Chamath Top
The $4,000 Gold Dream: One Peace Deal Away from a Putin Punch
Too Much, Too Fast: Panic or Buy the Dip?
AI Won't Die Overnight
Gold Ready to Explode? Fear Says Yes, Cheap Volatility Is the Trade
Shanghai Roars, China Tech Snores — The Laggard Trade?
NVDA Cracks, AI Smacked, Tech Attacked
AI Mania, CAPEX Boom, and Mega-Cap Concentration — Too Big to Fail or Too Big to Fall?
Retail Chasing, Pros Fading, Crypto Wobbles, Edge to Hedge
Calm Before the Storm? Vol Bargains, VVIX Screams, Seasonality Looms
"We see immense value in owning hedges thru the rest of summer"
Russell earnings revisions breaking out for the first time in 3 years
Semis eating software
The bull is on ketamine
Fab Five Fundamentals
Market – Rich, Stretched, and Crowding Fast
ETH Fever: FOMO, Treasuries Buying, and $25K Price Targets
Tech at Dot-Com Extremes, Retail Roars, Skew Screams, and Cash is Gone
EM Mania – AI Eats Commodities, EM Prints It
UAL Soars as Premium Carriers Tighten Their Grip
Nasdaq Tops Dot-Com Era in Historic Valuation Surge
Russell Roars and Pain Trade Risk Builds
AI CAPEX Mania – Tech Titans Outspend the Rest of the Market 2-to-1
3 Silver Charts We Are Watching
2020 Vibes – Bare Positioning, Brutal Upside Risk
Russell Shorts Roasted, NASDAQ Boasted, VIX Ghosted
Europe’s Defense Bubble Runs Out of Bullets
Hedge Funds Slash Risk, Torch Russell, as Buybacks Go Brrr
ETH Mania Meets Corporate Hoarding — Stash Could Surge 10x
ChatGPT kicking those 30-year olds back into mom's basement
Mediterranean Melt-Up
The Flow To Know
Fab Five Fundamentals
So many doughnuts
Apple’s Back, Chat Is King, Fear Is Dead
Green Shoots of Froth
The "Lagom" Market
SPX Climbs the Wall of Meh – No Fear, No Greed, Just ‘Lagom’
Dollar Bounce Brewing?
Bounce? Done. Fear? Gone. Greed? Missing in Action
When healthcare was healthy
Vol Crushed, Puts Puked, Dealers Forced to Chase
Gold Specs Tap Out, But Gold Isn’t Done - Miners Know Something?
From AI to Importing Electricity — Time to Nibble Europe?
Yields Cornered, Vol Crushed, Equities Drift — But It’s the Pace That Moves Markets
Squeeze Chasers Stalling as Firepower Dries Up
Earnings on Fire: Breadth Surges, Tech Leads, and the US Stands Alone
SPX Holds the Line After Massive De-Gross
Taking a Bite: Buying Rotten Apple at Peak Pessimism
FOMO Meets Fear of Drawdown — Volatility Reawakens
911 dialing 911
Checking In on That Sweeney Top
The Two Tailwinds For The Bulls
The Boomer Cash Ain't Helping
August Anxiety Arrives
The crazy charts and huge numbers that make you go WTF
We Can't Shake That Sweeney Top
Death Cross & Short Squeeze - Dollar’s Revenge
The Sydney Sweeney 100% Top: As Good As It Gets
USD: From RIP to Ripping
AI Capex Mania (Spoiler: We’re Getting Dumber)
Is Goldilocks With Us in the Room Right Now?
Throwing up the GRANOLA
"Sick of this frustration and tapping out"
Deportation Nation: $170B War Chest Fuels Trump’s Record ICE Dragnet — Obama’s Numbers Now the Floor
Breadth is bad and that is good
Postcard from Warsaw
Europe Is at Risk of Sliding Into Economic Irrelevance
Who's going to buy your stocks here at ATHs?
China Stocks' Stockholm Syndrome
How low can the healthcare sector sink?
"Buy calls"
Even Melt-Ups Deserve a Devil’s Advocate
Bro Billionaires vs. Base
I'm A Singleton, I'm A Singleton
Miss Market Wants To Squeeze You
Postcard from Madrid
"Germany Is Back"
Your ex-girlfriend was right: Size matters
Throwing Up The TACO
Gone Streaking
The Monster That Is OpenAI and How Elon and Apple Could Counter
Don't shut up Dan Niles...
Brussel's Got Balls
"I’m not inclined to pick a big fight with either of those"
King of Bro's netting close to $10bn in BTC
When +35% Feels Weak: Froth Rises and the Market’s Begging for a Breather
Tariff Risk at Zero, Protection Cost at Lows—What Could Possibly Go Wrong?
Emerging Markets Regain Momentum
The Gold Grab Isn't Over—But the Smart Money Might Be Looking at Silver
Dollar Snapback: From Widely Hated to Painfully Ripping
Heresy in the House of Bull: Seven Unholy Esoteric Signs the Rally Might Pause
NVDA Eating Europe—Still No Real Euphoria
Tech Euphoria Meets Historic Fund FOMO
Massacre in FX: JPY Longs Panic, Dollar Shorts Scramble, Euro Melts
Golden Cross Deja Vu: 2020, 2023... 2025? The Melt-Up Playbook Reloaded
Calling All Contrarians
Everything’s Ripping—Until It Isn’t: Systematics Chase, JGBs Crack Bonds, BTC Wobbles, Dollar Awakens
Postcard From Munich
Parabolic Panic: Japanese 30Y Yield Is a Bigger Threat Than Markets Admit
BTC Rockets into Overbought Stratosphere—Classic Vacuum Move
Who Are You?
NVDA: Both very magnificent and very overbought
Summer Melt-Up Set-Up: $7 Trillion On The Sidelines Eye NVDA & BTC...
Breakouts Everywhere: BTC Booms, Metals Squeeze, NVDA Mania, Frothy Flows – and a Sell Signal
Gold Locked & Loaded: Eyes Breakout as Volatility Hits Lows
Moon Mode Melt-Up: BTC Breaks Out, $200K in Sight
Melt-Up Madness – Vol Collapses as Complacency Soars
If Something Cannot Go On Forever, It Will Stop
Make the Dollar Great Again – Shorts Could Get Steamrolled
Complacency Rising – Volatility Squeeze Ingredients in Place
This is a great set up for the melt-up trade
Easy Money, Forced Buyers, Melt-Up Mirage – Mind the Trap Doors
MOMO Meltdown – Is This Just the Start?
European Defense Euphoria – Breakout or Fakeout?
Market Has Ignored Worsening Macro
Fluid in Tokyo, Frothy in S&P, and Q3 Vol Lurking
Dollar Bears Beware – You’re Not Early
Tick…Tick…Tick — Japan Bond Market’s Fuse Is Lit
Extreme Dollar Hate, Extreme Stock Greed — And Zero Fear
Neutral-ish Exposure, Extreme Greed, and Extinct Shorts
Dollar Despised — But No New Lows in a Week
Drink Them, Date Them, Trade Them...
Stars & Stripes Is Back — The Death of US Exceptionalism Was Greatly Exaggerated
Extreme Greed Returns: Bulls Giddy, Shorts Gutted
Russell Rips: Shorts Torched as Laggard Goes Leader
Selling AI
The Most Stretched Positioning Levels In A Few Years
Dip Buyers Dominate as Market Sucks Shorts Out
Decision Time: BTC Coiled for a Breakout?
MOVE Won’t Die — Bond Volatility Creeps Back
Regional Banks Reawakening
Momentum Massacre: AI Crushed, Laggards Roar - DeepSeek Déjà Vu?
Dollar Death Cross or Dead Cat Bounce? Buyers Strike Deepens
Gold’s Range Games: Breakout Looms as Dollar Cracks
