Market Meltup To Continue Amid Widespread Hedge Fund Degrossing And Institutional Pessimism

After Friday's rebound, US stocks finished down small on the week as dip buyers and momentum chaser made a return after a three-day hiatus, and it has now been almost 4 months since we've had a 3% or more drawdown from the highs (78 sessions).

According to Goldman's share sales trading desk, asset managers and hedge fund flows finished "only" slight net sellers on the week, driven by select trims across AI / momentum and shorts pressed in macro products.