The Complete Flows, Technicals & Positioning Market Summary As We Enter The Second Half

Here we are on the last day of the first half of 2025 with the S&P trading at new all time highs, because of what Goldman's Pierre Saboreault calls rapidly improving sentiment, which can be seen as a result of the cease-fire in the Middle-East, the resulting drop in Oil prices, and the incrementally dovish narrative from Fed speakers as well as superficial easing in trade and tariff negotiations.