I asked ChatGPT to cobble together all of the market crashes since 1800 and to predict the next one, based upon mathematical symmetry in the duration between crashes.Here are the great panics in recent history:Based upon the data above, ChatGPT informed me the next crash would beckon upon us between 2029-2034, which makes me feel...Read More

Underneath the veneer of the heavily weighted indices (7 stocks now comprise 40% of the SPY), there were lots of downside divergences and massive money flowing into mega caps. Observe.Almost all sectors were down, on the whole.Here is where the money went.And here is where it didn’t go.Cloud stocks are at the forefront of the...Read More

I never felt so good being flat for the session, thanks in large part to an end of day rally. Hello!I would not say we’re in some sort of interminable ‘fag-box’ (iBC reference) right now — but we certainly are basing out, post V shaped ramp.The earnings season has truly been feast or famine, with...Read More

It wasn’t exactly an easy session. We closed with gains of ~+91bps — however the overall tone of the market was somewhat bifurcated — alas this time in our favor. Observe.Market breadth was middling across all market caps with exception to mega and tera caps.On the whole, stocks were down — in spite of what...Read More

Market slid again, making it 6 of the last 7 days lower — classic summer trading. Albeit frustrating and filled with angst, these moves, on the balance, are moderate. I think what the market is digesting are the earnings coming out — which, for the most part, have been good. We had a poor report...Read More