"We have now reached the climax of the 1998-2000 internet bubble analog"

1. US Redbook Index. Same-store retail sales are accelerating again: +10.4% YoY for the week ending Oct 10 (8.6% prev).

2. CPI forecasts. "Forecasters anticipate a big rise in energy prices for the September CPI that will drive up headline but they see a tamer reading for core prices."

3. Investment Manager Index. "US equity investor risk appetite has revived after sliding in September, led by tech, but expectations of near-term market returns are muted amid concerns over rates, fiscal policy and geopolitics."

4. SPX seasonality. "The recent unfavorable window ends at the close on October 14th. The seasonal trend is then deemed 'favorable' through the end of the year."

5. AI vs. Internet analog. "We have now reached the climax of the 1998-2000 internet bubble analog. Price analogs tend to fail sooner or later, and I won't be surprised if this one fails sooner (given the difference in valuations), but it has been a good roadmap."

ICYMI