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The Magnificent 7 is officially in bear market territory 🐻
Source: Koyfin
The SP500 clawed back earlier losses on Monday to end the session higher after briefly touching six-month low.
However, the tape wasn't all that bullish despite the big reversal. Indeed, Tech completed a top relative to $SPY while defensive stocks completed a bottom. Not the kind of risk appetite you want to see on a rally. Source: Steven Strazza
Worst quarter for US stocks relative to the rest of the world in 23 years
Source: Bloomberg Opinion, www.zerohedge.com
Since Trump’s second term began, the US $SPY is trailing Germany $EWG by more than 19 percentage points and China $MCHI by more than 24 percentage points.
A steep hill to climb already for those keeping score. Source: Bespoke @bespokeinvest
This is a very important chart.
Leveraged loans have already broken down. Will junk bonds start to roll over as well? Source: Bloomberg, Crescat Capital
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