Fascinating study from Bloomberg: S&P Equal Weight outperformance was extremely rare historically:
1999-2002 Dotcom 2009 Post GFC 2020-2021 Covid “Those cases accompanied major shifts in the market.” “Equal-weight S&P managed to maintain some outperformance 250 days later.” “The big question: whether this is the start of an extended period of sharp moves around AI disruptors, and the disrupted.” Source: Macrocharts, Bloomberg
Make or break in NASDAQ
NASDAQ futures are now pressing the lower end of the range. We’re well below the 100-day, with the 200-day sitting just beneath, making ~24,500 in futures the clear make-or-break level. Source: LSEG Workspace TME
Fascinating chart from Goldman Sachs showing how stocks of newspaper companies started to move downward before their earnings took a hit.
Make or break in NASDAQ
Equity Put/Call Ratio jumps to highest level this year and one of the highest levels since June
Source: Barchart
Alphabet Inc. back on swing support
The stock has consolidated roughly 15% since the beginning of February, digesting prior gains and working off overbought conditions. Yesterday’s session saw a rebound right on major swing support at 296.12, with an intraday low at 296.25 — a precise technical reaction that shouldn’t be ignored. It’s still a bit early to call for a confirmed reversal, but this level is clearly one to monitor closely. What would strengthen the bullish case? • 📈 A clear pickup in volume • 🟢 Strong follow-through candles off support • 🔁 Higher lows on lower timeframes • 💥 Reclaiming short-term moving averages If buyers step in with conviction, this zone could mark the start of the next leg higher. If not, a clean break below opens the door to further downside. For now, it’s about watching price + volume confirmation. Are you waiting for confirmation — or positioning early at support? Source: Bloomberg
🚨Chinese carmakers are taking over Europe:
Chinese brands now represent a RECORD ~10% of all passenger cars sold in Europe. This surpassed both US and South Korean rivals for the 1st time EVER. Their EV market presence more than DOUBLED in 2025, to 11%, and hit 16% in December alone. Japanese brands remain the leaders at ~13% but at this pace China will overtake Japan as early as 2026. China is starting to dominate the global car market. Source: Global Markets Investor Bloomberg, Dataforce
CIOs are telling CEOs to slow down capex...
Source: BofA
Apple thinks differently
Source: A16Z
