DC Lite #542

1. Index vs. avg stock vol. At the surface, the index is trading in one of the tightest two-month ranges in history. Meanwhile, down in the trenches, the average single stock is realizing ~25 vol points over the index, the highest reading on record.

2. Global sector fund flows. "Relative to their assets under management, Industrials funds have seen by far the strongest inflows across sectors over the last 12 months".

3. Defensive rotation. US "Leadership continues to be a red flag. Financials and Tech down >1% today...Staples and Energy are up. Over the past 63 trading days, Staples + Energy are up >10%...Financials + Tech are negative. This combo has only happened twice before: 1990 (Desert Storm), 2000".

4. Tech winners vs. losers. "The performance gap between the tech sector's winners and losers has reached the 100th percentile, widening to levels not seen since 2000."

5. Citrini selloff. "Here is how the publicly traded companies mentioned in the Citrini article performed on Monday. Companies listed on the right side are seen from best to worst performing."

ICYMI