SOX is up roughly 18% since the June 9 low.
In just a few sessions, we have gone from the bottom of the range to the top, bouncing off the steep trend line despite briefly trading below the 21-day moving average. The moves have been absolutely brutal. For larger players, reshuffling big books in an environment like this is close to impossible. An 18% move in five sessions in the world's hottest theme is actually crazy when you stop and think about it. Chasing SOX after an 18% rally in five sessions feels a little late. Fading it feels dangerous. Source: TME
Nvidia
Source: Investing.com
If you were looking for cross-assets correlation... Below chart is Hyperscalers vs token prices...
Source: Bloomberg, zerohedge
Cybersecurity stocks are up +29.5% YTD while software has barely broken even
Source: Hedgeye
Tough to be bearish when you see such a chart...
Of course, these are estimates and they need to be met. Source: 3fourteeenresearch
Swiss National Bank's $173B Portfolio
Source: The Market Mind
The largest IPO ever was a huge success.
Thousands of jobs were created. Countless new millionaires were minted. And Small-cap stocks just hit new 52-week highs relative to Large-caps. Source: J-C Parets
BCA finds that a surge in IPO activity is historically associated with weaker forward S&P 500 returns and less multiple expansion.
Source: BCA Research
