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26 Jul 2024

Russell 2000 Outperformance vs S&P 500 continues.

RTY vs SPX break out is at its widest levels since Feb 2000, > +9% MTD Source: Bloomberg, HolgerZ

26 Jul 2024

Is there more drawdown ahead for the S&P500?

Over the last ~100 years, median year has a SPX peak to trough drawdown of 13%. Believe it or not current drawdown has only been 5%... Source: GS

26 Jul 2024

That was an enormous miss in durable goods, coming in at -6.6% vs a forecast of +0.3%.

We need to transport things in a growing economy, right? "Transportation equipment, down two of the last three months, drove the decrease, $19.6 billion or 20.5 percent to $75.8 billion. Source: Markets & Mayhem

26 Jul 2024

Nasdaq has underperformed Russell 2000 for 11 of the last 12 days, erasing YTD outperformance for the big-tech index

Source: Bloomberg, www.zerohedge.com

25 Jul 2024

The Magnificent 7 dropped by more than $750 Billion yesterday

Source: Evan, Yahoo Finance

25 Jul 2024

The S&P 500 yesterday ended a streak of 356 trading days going back to February 2023 without experiencing a one-day drop of 2% or more.

This was the longest streak since we went 949 trading days from May 2003-February 2007 without one! Source: Bespoke

24 Jul 2024

Tesla reports disappointing earnings for second quarter as revenue rises 2%

Tesla reported weaker-than-expected earnings for the second quarter as automotive sales dropped for a second straight period. The stock slid more than 2% in extended trading. $TSLA Tesla Q2 FY24 by App Economy Insights: • Revenue +2% Y/Y to $25.5B ($0.8B beat). • Gross margin 18% (-0.2pp Y/Y). • Operating margin 6% (-3pp Y/Y). • Capex +10% Y/Y to $2.3B. • Free cash flow +34% Y/Y to $1.3B. • Non-GAAP EPS $0.52 ($0.10 miss).

23 Jul 2024

$SPY The bull's first line of defense holds strong. 💪

Source: Trend Spider

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