⚠️This has never happened before: The NASDAQ market cap relative to US GDP hit 105%, an all-time high.
The ratio has nearly doubled since the 2022 bear market low and is now ~40 percentage points above the 2000 Dot-Com Bubble. It is also at a record relative to world GDP. Source: Global Markets Investor, econovisuals
Breaking out to new highs.
Like the sell-off never even happened. $SPY | $QQQ Source: Trend Spider
The most-hated rally ever ??
A record 91% of fund managers say U.S. stocks are overvalued (BofA fund manager survey). Meanwhile, the S&P 500 index continues on its V-shaped recovery track and remains in the running for the fastest and strongest recovery ever following a 20% drawdown ‼️ Source: Fidelity
The S&P 500 closed at another all-time high, its 16th of the year.
This follows 57 all-time high in 2024, the 5th most of any year in history. $SPX Source: Charlie Bilello
HedgeFunds have now built the largest short position in small cap stock futures in history
Source: barchart
The best performing stocks in the SP500 this year...
Source: Charlie Bilello
After getting off course in Q1, $SPX has been trending well with the Cycle Composite since.
Will we see a pick up in volatility in the week ahead, in-line with historical cycle? Source: NDR thru Seth Golden
An update on the current sp500 bull market vs history
Source: Ryan Detrick
