From oversold to overdrive

Oversold is gone

On August 20 (here) we pointed out just how oversold the market was. Fast forward to today, and the RSI has moved sharply higher. The question is whether or not we see overbought again?

Source: Refinitiv

NASDAQ seasonality

Right on time....although the more interesting part of the chart comes after September.

Source: EquityClock

Not perfect, but...

...will the autumn have similarities with the 1999 analogy?

Source: Refinitiv

The AI likes strong EPS momentum...

The AI basket performance remains supported by strong positive EPS momentum.

Source: Barclays

Can't keep a good man down

NVDA edition...The question is whether or not NVDA pulls the entire NASDAQ higher?

Source: Refinitiv

The break down

US 10 year puking below the short term trend line.

Source: Refinitiv

Credit protection to SPX - why so low?

CDX IG and the SPX have moved in tandem over the past months. Sure, there is a mean reversion aspect of the CDX IG, but the most recent gap is something to observe. Credit protection is very "relaxed"...Chart, CDX IG inverted vs the SPX.

Source: Refinitiv

VIX loving it

VIX has not traded at these levels since early August. The gap vs the SPX remains rather short term wide.

Source: Refinitiv

Chasing low quality (again)

Most shorted and the MEME squeezing hard...Stuff like this has been good leaders, both ways.

Source: Refinitiv

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