Nasdaq 100 QQQ ETF just hit the upper band of the long-term rising channel (monthly chart).
Is it due for a deeper correction now? Source: Trend Spider
US small cap funds see 2nd largest weekly inflow ever
Source: EPFR, BofA, Mike Z.
THE Qs GET CRUSHED
$QQQ Worst one-week decline in over three months. Source: Trend Spider
BREAKING 🚨: Hedge Funds
Long/Short Hedge Funds suffered their worst day yesterday since the 4th quarter of 2022. Source: Barchart
We just saw the largest selloff in the semi-conductors SOX index since the pandemic crash
It is taking place at the time valuations are at record high (see below price-to-sales in the chart underneath) Source: Bloomberg, Tavi Costa
⚡ The carnage is real.
Yesterday was Nasdaq 100 $QQQ worst day since December 2022. Source: Trend Spider
July has been up 9 years in a row and the first half of July is one of the strongest periods of the year.
This strength shouldn't be too surprising. But be aware historically July peaks on the 17th, so tomorrow. Source: Ryan Detrick
Russell 2000 $IWM is catching up with S&P500...
Russell 2000 is now up +11.3% YTD (with 10.3ppt has come in the last 5 sessions...) versus + for S£P 500 +19.35% YTD Source: Mike Zaccardi
