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"Certainly this must be bullish, right? RIGHT?"
DC Lite #717
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1. Equity futures positioning. Non-dealer positioning in US equity futures is approaching the late-2024 peak.
2. Levered ETF AUM. "Levered/inverse ETF AUM just under $140B, down $55B over the past 20 days, and gross exposure down $135B over the same stretch, which should mean less forced buying and selling on big index moves."
3. VXN reversals. "Certainly this must be bullish, right? RIGHT? VXN - the VIX for QQQ - has already dropped from over-38 to under-30 (at any point during the day) within three trading sessions. Please enjoy the next day returns as well as the worst draw down over the next 5 trading days."
4. NVDA vs. SOX. Today's 6.9% gain for SOX was its largest on record on a NVDA down day.
5. US forward earnings. "Forward earnings for the S&P 500, S&P 400, and S&P 600 all rose to record highs again last week. Earnings strength remains broad."
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