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Bear barrage

Too many bears

The spread between AAII bulls-bears has collapsed lately. Similar "moves" in sentiment has resulted in brutal SPX bounces.

Source: Refinitiv

Keep it simple

Source: Refinitiv

Less "freaky" VIX

Source: Refinitiv

The technical bull case setup

Drawdown levels associated with a bounce

Source: Bloomberg

Oil's overbought mania

Source: Refinitiv

Bond convexity

Source: GS

Feeling tight?

Source: Bloomberg/GS

The AI race becoming weird