One equity market tailwind is coming back...
Roughly 80% of corporates are out of the buyback blackout period Source: Bloomberg
Wondering why memory chips stocks are on fire? Just watch the chart below courtesy of Bloomberg.
Nvidia's chips consume more RAM witch each generation. Rubin requires as much memory as several powerful PCs.
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
