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Overbought tech needs a pause

Overbought

NASDAQ and NYFANG at very overbought levels, but people tend to forget we can stay at overbought levels for longer than most can "endure".

Source: Refinitiv

Apple - zoom out...

Source: Refinitiv

Tech positioning - getting stretched

Who's outperforming?

Source: Tier1Alpha

SPX - just doing what it should do

Source: Refinitiv

Corporate America is still not sending off alarm bells

High yield refuses

Source: Refinitiv

Rainy European summer?

Source: Morgan Stanley

Still bullish European equities?

Source: Refinitiv