The fact is: we're still in a bull market
Source: J-C Parets
$GOOGL versus $ORACL: what is the message from the market?
Here's a potential explanation by Mac10: "As a proxy for OpenAI stock which is private, we have OpenAI vendor Oracle as proof of the failure of the OpenAI economic model. Oracle is down -35% from the high in clear repudiation of the Ponzi financing model. Meanwhile Google is having its best seven months in company history which shows the superiority of the self-financed model. It's clear that market is saying that Google will "win" the AI arms race, meaning survive this endurance contest". Maybe a bit extreme. But can we say at least that Mr Market has his doubts about the belief there are economies of scale to AI which is why the market is rejecting the OpenAI vendor financing approach and goes "all-in" the self-financing model of Alphabet??? Source: Mac10
When you see the amount of freak-outs we've been seeing on Friday AM lately = tends to end with a higher Monday.
Can it happen again today? If so, that'll be 11 higher Mondays in a row. Source: Ryan Detrick, Carson
Gold stocks broke out of a major consolidation.
Copper miners followed with almost the same pattern. Are energy equities next? Source: Tavi Costa
🔴 Stock Market Crash "Hindenburg Omen" Triggered 🚨
The Hindenburg Omen, an indicator that correctly detected the 1987 and 2008 stock market crashes, has been triggered for the 5th time over the last month 👻😱 ➡️ What is a Hindenburg Open? The Hindenburg Omen is a technical stock-market indicator that attempts to predict increased probability of a market crash. It triggers when several conditions occur at the same time on a stock exchange (usually the NYSE), such as: A high number of new 52-week highs and 52-week lows on the same day A rising 50-day moving average Worsening market breadth Other internal market divergences It’s named after the Hindenburg disaster because it is meant to signal potential “market instability.” Source: Barchart
Under the surface, stocks continue to improve.
We keep hearing the opposite from Mr. Hindenburg, but fortunately we have the data to show what is really happening. Number of stocks above their 20-, 50-, and 200-day MAs are all moving higher the past week. Source: Ryan Detrick
Only 26% of S&P 500 stocks have outperformed the $SPX over the last 3 months, one of the worst market breadth readings since 2020
Source: Goldman
Buybacks are back...
"Goldman estimates over $6B worth of stock buyback vwap demand for each November trading day" Source: zerohedge
