Global freight container rates still moving higher and year/year increase is now up to +233%
Source: Bloomberg, Kevin Gordon on X
And so begins the S&P 500 buyback blackout period . . .
Source: Markets & Mayhem
What a legend...
#humor
Nvidia FOMO ? This is interesting:
~90% of Wall Street analysts have now a buy rating on NVIDIA, up from ~30% a decade ago. This comes after the chipmaker's share prices have skyrocketed 27,989% over the last 10 years. As the stock rally intensified, the number of buy ratings rapidly increased. Wall Street has never been more bullish of $NVDA. While fundamentals are strong, there is indeed a risk of short-term pullback. A buying opportunity? Or just the start of something more severe? Source chart: Alpine Macro
Lumber prices continue to sink amid a soft US housing market
Source: The Daily Shot
Rolex prices are down almost 40% from highs
Source: Michael Burry Stock Tracker ♟
Nvidia Looking for Support
Nvidia (NVDA US) has started its consolidation. The first minor support is at 117. An interesting level to keep an eye on is the 107-112 zone, which also represents a 50% Fibonacci retracement. If all those levels break, there is the gap zone at 96-101.60 that could be filled and, of course, the major support zone at 75.60-84.35, but that seems so far away! Source: Bloomberg
Bitcoin at demand zone
Bitcoin (XBTUSD) showed positive signs in May with a break above the last swing high, suggesting that the consolidation could be over. Yesterday's sell-off (-8%) reached a strong demand zone. Keep an eye on this level. Source: Bloomberg
