Bull Vs Bear: Trade Is Slowing... But The Market Is Looking Through It

On the 'technicals' side of the ledger, top Goldman trader Rich Privorotsky notes that May saw the largest monthly notional net buying on our records...

"While this shows a positive turn in sentiment, it’s worth noting that the top 4 buying days in May together made up 81% of this month’s notional net buying, which suggests the pace of buying was uneven and points to signs of a “stop in” amid the sharp market rally." (PB)