Healthcare Stocks just formed a Golden Cross for the first time since October 2025
The last one sent prices higher by 10% over the next 10 weeks Source: Barchart
Massive Reversal in Asian Markets
Over $500 BILLION has been added to Asian stocks today as semiconductor and AI stocks rebounded after the recent sell-off, following a strong close on U.S. stocks. South Korea's KOSPI is up +4.6%, adding ₩280.6 trillion ($189B). Japan's NIKKEI is up +1.6%, adding ¥22.9 trillion ($139B). Taiwan is up +1.2%, adding NT4.1 trillion ($50B). China's SSE is up +0.8%, adding ¥520 billion ($73B). Hong Kong's HSI is up +1.5%, adding HK$131.6 billion ($17B). India's NIFTY is up +1.0%, adding ₹4.9 trillion ($57B). Source: Bull Theory
To put things into perspective: The Nasdaq 100 is currently trading at ~23x NTM P/E
which is broadly inline with its 10y average multiple and towards the lower end of its 3-4y range, Goldman says, Source: HolgerZ, Bloomberg
Of the 20 top performing stocks in the first half (nearly all tech), only two are up so far in Q3, and the average QTD decline is 17%.
Source: Bespoke @bespokeinvest
Someone just filed for a Nasdaq 100 and S&P 500 that owns everyone EXCEPT Elon Musk owned companies.
Source: Evan on X
"A generational transfer in free cash flow is taking place"
- BofA Source: zerohedge
As somewhat of a rarity this decade, small caps (Russell 2000) are outperforming large caps (S&P 500) so far in 2026.
If sustained to the end of the year, it would end 5-years of consecutive annual outperformance by large caps. Source: Koyfin
Biotech bull
After enduring a 62% collapse, biotech has come roaring back. A combination of M&A optimism and positive clinical news has propelled XBI 156% off its 2023 lows, putting the ETF within touching distance of its 2021 highs. Source: TME
