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
History was made yesterday! The Russell 2000 closed 4.4 standard deviations above its 50-day moving average.
No other major US index (Dow since 1900, S&P 500 since 1928, and Nasdaq since 1971) has ever closed at that much of an extreme. Source: Bespoke
BlackRock generated $4.8 billion in revenue in the quarter, an 8% increase from the same period last year.
This growth was driven by a record $10.6 trillion in assets under management, led by high ETF flows. Source: Genuine
