Welcome To The New Normal

Stranger things

The S&P 500 just did something it hasn't done in nearly 40 years: it fell despite more than 80% of its stocks rising. Meanwhile, hedge funds are de-risking at a historic pace, the Magnificent Seven are losing their magic, and Morgan Stanley's Mike Wilson thinks the correction may be approaching its final act.

Here are our favorite charts from Nick Savone, Managing Director at Morgan Stanley's equities desk, this week.