Markets bottomed just over a year ago. Amid immense panic
and uncertainty, stocks began pricing in the economic
recovery that’s currently underway—a good reminder that
stocks are forward looking and move ahead of the economy. |
00:01 - 06/04/21 |
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94.39% of
SPX
components above the 200MA, one of the highest extensions
ever. Yet this data coming with the weakest new high/new low
readings by far compared to any of the previous readings
above 90. |
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Last two days, the 7-day moving average of US covid deaths
started dropping again. Hopefully it's the resumption of a
trend or/and at least a sign that we're not going to get
much of an upward move on this measure |
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Last year Cathie Wood convinced gamblers that virtual
economy Tech is a secular growth story. That trade blew up
when Wall Street told them that cyclicals are now secular
growth stocks |
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Ticket sales at the Louvre fell by more than €90m in 2020 |
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