DC Lite #396

1. Crypto breadth. "Very few cryptocurrencies are currently trading within 5% of their 252-day highs—unlike Bitcoin, which remains near its own high. For Bitcoin bulls, this could be viewed as a constructive development. Historically, when the majority of cryptocurrencies cluster near their highs, it often signals Bitcoin exhaustion and precedes a period of consolidation or a correction."

2. Realized vol. "The $SPX 3-month realized volatility just fell by 8.2 points, marking the largest single-day decline since 1987."

3. Vol control equity exposure. "Looks like Volatility control funds will be forced into chasing the squeeze."

4. Sharp rallies. "Today caps off one of the greatest 3-month rallies in history, up more than 25%. Turns out, this is extremely bullish. Only 5 other times in history has this happened and continued strength was perfectly normal. Up another 22% a year later on average and never lower."

5. Triple Golden Cross. "Barring a major move in either direction, the Dow Jones Industrial Average will have its own golden cross on 7/15 ... Golden crosses may not be nearly as positive of an indicator that some technicians view them as, but when all of the major equity indices have experienced one within weeks of each other, it has usually been a bullish signal for the months and year ahead."

ICYMI