What a vaccine does… pic.twitter.com/Ux39K4gnCW
— Daniel Lacalle (@dlacalle_IA) November 10, 2020
85% of stocks > 200-day moving averages, most since Aug 2013.
One consequence of rotation to Value & small-caps is improvement in broad breadth gauges. Watching Growth & large-caps. If they break down (absolute, not relative), then so does the bullish breadth case. @NDR_Research pic.twitter.com/4MFGVad5dP
— Ed Clissold (@edclissold) November 11, 2020
Big money chasing Stock ETFs this week…$SPY took in +$10B, pushing 1M inflows over +$15B, very stretched short-term.
Context matters though – sellers dominated all year… and SPY still lost -$20B YTD even *with* this buying.
Glass half full? Time will tell… HAGW! pic.twitter.com/mIMUL34g0Z
— Macro Charts (@MacroCharts) November 13, 2020
There have been 17 weeks with bigly jumps in optimism among mom-and-pop survey-takers + ETF traders.
If you used this kind of thing to short stocks and hold for a few months, you would have won about 18% of the time.
But hey, you nailed the peak in 2007! pic.twitter.com/FUDBqaIDu0
— SentimenTrader (@sentimentrader) November 13, 2020
while they're piling in insiders are piling out pic.twitter.com/agpKn15u6V
— Sven Henrich (@NorthmanTrader) November 14, 2020
Goldman's 4,600 SPX price target for 2022 is based on a 22.1x PE fwd multiple pic.twitter.com/dqMZRNQ7Om
— zerohedge (@zerohedge) November 11, 2020
— Lance Roberts (@LanceRoberts) November 12, 2020
— Lance Roberts (@LanceRoberts) November 14, 2020
Russell 3000 P/E just hit all-time highs.
1) Tech bubble, near record prices with low earnings.
2) Post GFC, low prices with depressed earnings.
Record prices with depressed earnings. pic.twitter.com/2PwkO8f9XK
— Otavio (Tavi) Costa (@TaviCosta) November 10, 2020
Valuation dispersion beyond 01 wides. W/ leads accelerating throughout 2021 gap likely fades. Anything with a ticker vs tech. pic.twitter.com/eFCDSecsZI
— Teddy Vallee (@TeddyVallee) November 15, 2020