Given apple $APPL woes, nvidia $NVDA is in charge of doing all the heavy lifting of the Nasdaq 100 $QQQ
Source: Trend Spider
Fortune favors the patient investor. NASDAQ Returns By Year Since Inception
by Quartr
Speculators have built the largest nasdaq long position in history according to CFTC data
Positioning remains a short-term issue for equity markets. Source: Barchart
The Nasdaq 100 total return index closed at a new all-time high yesterday for the first time since December 27, 2021 (715 days)
S&P 500 total return index is 3 bps away from a new all-time closing high. Source: Charlie Bilello
The net long positioning on the Nasdaq 100 by asset managers and leveraged funds is at a record high
When a trade becomes this crowded, how long until things reverse course? Source: Rosenberg Research
Nasdaq has now listed 0DTE Options (Zero Days to Expiry) for ETFS tracking silver, gold, oil, natural gas, and treasuries. Let the games begin! 🎰
Financial Times >>> "Trading in a controversial type of derivative known as “zero-day” options is spreading to Treasury and commodity markets, as Nasdaq and other exchange groups try to replicate a boom that has transformed trading in US stock indices. Nasdaq this week listed a series of new options contracts tracking some of the most popular exchange traded funds investing in gold, silver, natural gas, oil and long-term Treasuries. Options contracts give investors the right to buy or sell an asset at a fixed price by a given date. Trading a contract on the day it expires is known as zero-day trading and can be used to bet on or hedge against extremely short-term market moves. Zero-day trading in options tied to the S&P 500 index boomed in popularity during the coronavirus pandemic. Initially viewed as a temporary phenomenon driven by speculative retail traders, the surge sparked concern among some analysts and regulators that it could create systemic risk by exacerbating market moves. Source: FT, Barchart
The Nasdaq 100 and S&P 500 ETFs are now less than 2% below their all-time high while the Russell 2000 ETF (small caps) is 24% below its high and the ARK Innovation ETF is 71% below its high
Source: Charlie Bilello
8 straight day higher for Nasdaq and 7 straight for S&P - the longest winning streaks since Nov 2021...
Source: Bloomberg, www.zerohedge.com
