Weekly S&P500 - Tech & Bitcoin show speculative scrambling

TopdownCharts
11-25

Learnings and conclusions from this week’s charts: $.SPX(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2412(ESmain)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$

1. Tech & Bitcoin show speculative scrambling.

2. Trading in single-stock leveraged ETFs is surging.

3. Mutual funds are underweight Big Tech.

4. Stock market supply has been contracting.

5. Real earnings yields are real low.

Overall, as documented last week, sentiment and the speculative mood is becoming progressively more bullish, euphoric and frenzied.

It’s a dangerous time to lean against the market in light of this self-reinforcing and significant momentum, but it’s an equally dangerous point in the cycle — technically momentum and trend are up, but risk flags are waving all around.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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