🚨THIS HAS HAPPENED ONLY 3 TIMES AFTER THE GREAT FINANCIAL CRISIS🚨
US corporate executives of the S&P 500 companies have been buying the least stock since the start of the 2021 bear market. Chart: @jasongoepfert thru Global Markets Investor
BREAKING: The equity put-to-call ratio has dropped to 0.44, the lowest since July 2023.
This is also the second-lowest level since March 2022. In other words, the appetite for hedging against a stock market decline is at its lowest in years. This is despite October being the worst month for stocks on average during Presidential Election years. Meanwhile. the SP500 has hit 45 all-time highs this year and is up 23% YTD. The resilience of this market is truly remarkable. Source: The Kobeissi Letter
Time in the market vs. timing the market...
Time in the market can work magic! This is an example showing the median growth of 100k given length of time in the market. Source: Peter Mallouk, Charlie Bilello
Is this market unbreakable?
The S&P 500 is about to hit $50 TRILLION in market cap for the first time in history. It's now up +22% this year and over +40% since the October 2023 low. Despite many headwinds (Middle east tensions, US elections uncertainties, etc.), even a pullback of 5% is barely able to hold... How far can this bull market go without any correction??? Source: The Kobeissi Letter
CTAs are projected to sell the S&P 500 in EVERY SINGLE scenario over the next week and month, as much as $38 billion worth, according to Goldman Sachs
Source: Barchart
The cycle composite for S&P 500
The trend is more important than the level Source: J-C Parets
The S&P 500's Dividend Yield has moved down to 1.27%, tied with Q4 2021 for the lowest yield since 2000.
Source: Charlie Bilello
Happy Q4...
sp500 heatmap October 1st Source: @bremarkets on X
