"More stocks are moving into healthy uptrends"

1. US30Y vs. US2Y. "This was indeed unprecedented: 30-year Treasury yields have never been up this much on a Fed decision while two-year yields fell this much, based on data going back to August 1987."

2. Bitcoin bear markets. "The deepest discount of this cycle stopped well short of the mildest bear before it ... A drawdown this gentle has not yet served the time its predecessors served, which argues for patience rather than for calling the low".

3. Retail activity. "Retail sold a net $243m of single stocks yesterday, marking the largest one-day outflow since the Covid crash".

4. Trends rebuilding. "More stocks are moving into healthy uptrends."

5. Semis valuation. "If Semis were a sector, it would be the fourth cheapest. It would also have the highest expected earnings growth rate over the next 12 months ... The Semis industry is 22.1% cheaper than the Staples sector. Woah."

ICYMI