Markets on Edge: Laggards Surge, Shorts Lurk and Complacency Meets Exhaustion
Markets at a crossroads
SPX and NASDAQ are stalling in rising wedges as momentum fades, while investors pile into laggards. With skew elevated, put-call ratios low, and shorts still not squeezed, the setup leans toward either a final melt-up or an impending pullback. Time to tread carefully.