The S&P 500 was up for the seventh day in a row today - its longest win streak since Oct 2025...
Source: www.zerohedge.com, Bloomberg
$SPX sp500 is back inside the range, trading roughly in the middle. Note the 200 day MA is right here.
Source: TME
Something weird took place the last week of March.
"Our retail cash platform finished last week net selling, the first such week since November 2025 ... retail has moved away from one-way buying behavior." (Citadel)
Last year’s price drop of -18.9% was way bigger than this selloff’s -9.1% max drawdown, but this year’s valuation pullback (-18.4%) is almost the same as what we’ve seen last year (-19.5%)
Source: Daily Chartbook
SPX is pushing slightly above the downtrend, testing the 21-day MA.
A close above could turn this into a squeeze setup, but 6700 (futures) remains the key resistance to watch. More here. Source: TME
Is this a warning sign of a private credit crisis, or just market panic?
Blue Owl Capital, often considered a poster child for the private credit boom, closed at a record low as worries grow about the health of the $1.8tn market. The stock fell 1.4% to $8.45, slipping below its previous low from late 2022. It is now down 68% from its all-time high. Source: HolgerZ, Bloomberg
The Gulf "is now home to both the best-performing global bourse over the past month and the worst"
"Dubai’s main stock index is the world’s worst performer so far in March .. Oman’s benchmark surged to the top of global rankings" Source: Ziad Daoud, Bloomberg
No TACO YET
*TRUMP: MUST COMPLETE MISSION IN IRAN *TRUMP: GETTING VERY CLOSE TO FINISHING JOB IN IRAN *TRUMP: WE WILL FINISH THE JOB VERY FAST *TRUMP: WILL HIT IRAN EXTREMELY HARD OVER NEXT 2-3 WEEKS *TRUMP SAYS US WILL HIT IRAN'S ELECTRIC PLANTS IF NO DEAL Everything that was rallying on peace hopes sold off immediately. Asian markets cratering overnight. Japan down 2.4%. South Korea down 4.2%. Oil surging back above $105 after briefly dipping on peace hopes. Source: Jim Bianco, CNBC
