CTAs are projected to buy stocks in EVERY SINGLE SCENARIO over the next week, up to a total of $44 Billion 🥳🤯👀📈
Source: Barchart
It's not surprising to see the S&P 500 back within 1% of all-time highs.
The Iran conflict turned so many investors bearish but the rebound was inevitable. The S&P 500 is up 14.2% on average after a geopolitical shock dating back to the Korean War. Source: Phil Rosen
Inverse Panic !
S&P500 $SPX is not far from range highs post the epic squeeze. SPX futures are nearing the 7k level, with range highs just above. Downside panic has flipped into upside chasing, while vols have reset to pre-war levels. Chart 2 (SPX vs. VIX, inverted) shows the gap has narrowed materially from peak panic. Source: TME
$SAP, a German software company, is down -50% from its all-time high.
Source: Hedgeye
The S&P 500 has closed green on the year for the first time in 27 trading days.
That looks to me like V-shape... $SPY Source: Trend Spider
Talking about a K-shape economy...
The gap between Wall Street and Main Street has never been bigger: ➡️ Main Street: US consumer sentiment is down to 47.6 points, the lowest level in history. ➡️Wall Street: the S&P 500 is trading just 3% from its all-time high. ⚠️ Since the 2020 pandemic, consumer sentiment has fallen -50%. During the same period, the S&P 500 has rallied +205%. This comes as inflation, rising housing costs, and a weakening job market are increasingly squeezing the average American household. Meanwhile, 87% of all equities are held by the wealthiest 10% of households. Asset owners are the biggest winners in this economy. Source: The Kobeissi Letter, zerohedge
In case you missed it... $INTC Intel has risen an absurd 53% over the past 9 trading days
It is now up over 200% since the Trump Administration purchase @ $20.47 Source: Trend Spider
This chart says it all: US tech valuations have compressed from 40x to 20x Forward P/E in weeks.
Tech valuations are now LOWER than they were when ChatGPT was announced. As the Iran War drives markets lower, AI is only getting bigger. A buying opportunity? Source: Apollo, The Kobeissi Letter
