41% of Russell 2000 companies report negative earnings, doubling since 2006, comparable to 2008 crisis levels.

41% of Russell 2000 companies now have negative earnings

This number is up more than 2x since 2006

And is comparable to levels seen during the peak of 2008 Financial Crisis

This is not sustainable pic.twitter.com/CTN5a9ayaw

— Game of Trades (@GameofTrades_) August 8, 2024

Certainly not ruling out the summer 07 playback of a rally to ATHs fueled by whipsaw ‘positive’ data, soft landing narrative into rate cuts – although most critical thing will be to see if the July high now holds or not.

— Don Johnson (@DonMiami3) August 8, 2024

S&P500

How we lookin?

Update:

Probable path. t.co/KW6j0mWDfc pic.twitter.com/GbxNFdhyRv

— The Great Martis (@great_martis) August 8, 2024