12 Jul 2024
It has now been over 220 days without a 5% pullback in the S&P 500, the 3rd longest streak in the last 10 years.
The last time a 5% correction occurred was in the second half of 2023. Overall, over the last 34 years, the longest stretch lasted for ~550 days in 2016-2018. Meanwhile, the S&P 500 has skyrocketed by 33% since October and 15% year-to-date in one of its best rallies in years. Source: The Kobeissi Letter, Goldman Sachs
12 Jul 2024
That RTY (Russell 2000) / NDX (Nasdaq 100) spread was over 600bps at its peak today.
By the close it was the biggest relative outperformance of the Russell 2000 over Nasdaq 100 since 2002... Source: Bloomberg, www.zerohedge.com
12 Jul 2024
Is the Bank of Japan intervening again trying to prevent the Yen from falling further against the U.S. Dollar?
barchart
12 Jul 2024
US manufacturing mega-boom in 2 images
Source: Science is Strategic, The Economist
12 Jul 2024
US supercore CPI is negative MoM for the 2nd month in a row
zerohedge.com, Bloomberg
12 Jul 2024
Gold >2400 as markets believe lower than expected CPI report is opening the door to rate cuts by the FED starting in September.
Source: www.zerohedge.com
12 Jul 2024
NVIDIA vs. the tiny mining sector
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12 Jul 2024
🚨 🚨 🚨 HUGE SECTOR ROTATION OUT OF TECH AND INTO SMALL CAPS HAPPENING NOW 🚨 🚨 🚨
⬇ Nasdaq 100 $QQQ -1.0% ⬆ Russell 2000 $IWM +3.3% Source: Stocktwits
