"NVDA has excited investors over the last 5 years almost as much as CSCO in the back half of the 90s and into early 2000."@DataTrekMB pic.twitter.com/dLTNi1aXfg
— Daily Chartbook (@dailychartbook) July 11, 2024
So we had a significant inflection is rates expectations today with cuts brought forward and 3 cuts priced in for 24, yet no melt-up. Quite the contrary.
Lower inflation is terrible news for top line, operating margins, earnings and employment.
That whole melt-up bullshit was…
— KKGB (@INArteCarloDoss) July 11, 2024
Nasdaq
A formation in amongst a formation .
End game on approach .
This, not good.
This, very bad.God bless and Godspeed. pic.twitter.com/EgU1SUHhMr
— The Great Martis (@great_martis) July 11, 2024
Here's where it gets interesting:
Breadth today is highly positive because small cap stocks are rallying led by regional banks.
Why? Because short small caps / long Tech was a consensus trade. Now it's going in reverse as hedge funds are force unwound.
Back in March 2023… pic.twitter.com/JMNvP6g7Nh
— Mac10 (@SuburbanDrone) July 11, 2024