I am working at the moment on the 4th installment of the Heretic’s guide. This one covers the Big Five hyperscalers earnings and filings forensically. I have the analysis mostly done. I am working on the visuals, and getting the prose together.
The S&P 500 made new highs today. The equal weight S&P 500 had already made new highs. The NASDAQ 100 is still some ways off its all-time high.
Thanks to Jonathan Krinsky at BTIG, we know that the S&P 500 has surged 5% over four trading days to a new high only three times other than today.
One was 3/21/00, basically at the top of the 1990s tech media telecom bubble. The other two were 4/23/99 - roughly when most silly dot coms public at the time started crashing, and 11/9/20.
But what really matters is the SOX, and the Momentum trade.
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