If you don't know what a shooting star is here's one
Here's the daily chart of Super Micro SMCI. According to Japanese candlestick, it is usually followed by more downside. (this is not an investment recommendation) Source: Trend Spider
Hedge funds' top picks for Q4 2023 are in!
Key investment themes: ☁️ Hyperscalers: $AMZN, $GOOG, $MSFT. ⚙️ Semiconductors: $AMD, $ASML, $TSM. 🌏 Global commerce: $MELI, $PDD, $SQ. ☁️ Software: $CRM, $OKTA, $PCOR. 🩸 Medical devices: $DXCM. Source: App Economy Insights
$2.4 Trillion In Options Expire Today
There is over $2.4 trillion of notional in options exposure that will expire on Friday, including $510 billion notional of single stock options. Index options volumes continue to grow, driven by 0DTE/short-dated options. Meanwhile, single stock options volumes have rebounded to an 18-month-high fueled by significant growth in call options volumes. Google searches for "call options" just hit a 2 year high. source : gs, zerohedge
Seasonality
S&P 500 is Now Entering the Worst 2-Week Period of the Year Source : gs, barchart
The US equity market is rivalling 2000 and 1929 in terms of being its most concentrated in history, DB has calculated.
The top 5 stocks Microsoft, Apple, Nvidia, Alphabet & Amazon account for 25% of mkt cap of the S&P 500. source : holgerz
S&P 500 $SPX is now entering the worst 2-week period of the year based on data going back almost 100 years.
Source: Bloomberg
Since February 2023:
1. Magnificent 7: +77% 2. S&P 500: +20% 3. Russel 2000: +5% 4. S&P 500 Equal Weight: +4% If you remove the Magnificent 7 from the S&P 500, the index is barely up 5% over the last year. Source: The Kobeissi Letter
Ranked: The Largest Stock Markets Over Time, by Country (1970-Today)
Source: Visual Capitalist
