Stagflation fears are back.
Source: BofA Global Research; Mike Zaccardi
Don't fight the Mag 7?
The ratio of the Mag 7 vs the S&P 493 (S&P 500 ex Mag 7) has just hit another ATH. Source: Bloomberg, HolgerZ
$VVIX just made its lowest close in about 8 years
What is the Cboe VVIX Index? Volatility is often called a new asset class, and every asset class deserves its own volatility index. The Cboe VVIX IndexSM represents the expected volatility of the VIX®. VVIX derives the expected 30-day volatility of VIX by applying the VIX algorithm to VIX options. Source: Swordfishvegetable
Wall Street is turning less negative on China stocks
Source: Daily Compounding
The S&P 500 $SPX - it has now reclaimed its 50D moving average
Source: Barchart
Sell in May and Go Away?
It hasn't worked in the last decade, and it isn't working this year either, with the S&P 500 already up more than 3% this month! Source: Barchart, Bloomberg
Nvidia, $NVDA, has now added $400 BILLION in market cap since its bottom on April 19th.
That's $400 billion over 11 trading days or $36 billion PER TRADING DAY. After falling over 20% from its high, $NVDA is currently just 6% away from a new all time high. It's officially the 3rd largest public company in the US and one of four with a $2 trillion+ market cap. Source: The Kobeissi Letter
Hang Seng Index is up for 10 straight days now.
Source: Bloomberg, David Ingles
