Top 10 S&P stocks now pricier than dot-com peak, forward P/E hits 30 while rest of index lags at 20. BofA triggers triple sell signal across global markets. Cash levels, breadth, and flows all flash red on Hartnett model

SPX historically drops 2% after similar signals since 2011

According to BofA's Michael Hartnett, #sell #signals have been triggered.
– BofA FMS Cash Rule: cash as % AUM in FMS 3.9%. = sell signal…average SPX loss in following most from 15 "sell" signals since 2011 = 2%;
– BofA Global Breadth Rule: 64% of MSCI ACWI equity indices trading… pic.twitter.com/ubcDhY6S7E

— Lance Roberts (@LanceRoberts) July 21, 2025

🤔 pic.twitter.com/fdWGk7w5xF

— Markets & Mayhem (@Mayhem4Markets) July 21, 2025

Two bellwethers: NVIDIA and Microsoft.

Both have nearly reached their technical targets, within a few dollars.

A culminating top is approaching.

Hope this helps. pic.twitter.com/yXa8IJ0clm

— The Great Martis (@great_martis) July 20, 2025

What is going on? pic.twitter.com/Ah05woEW2i

— David Lee (@DavidLe76335983) July 21, 2025

Search for Bitcoin not even close to the 2020 highs according to Google Trends: pic.twitter.com/I6xdSZZXuN

— Heisenberg (@Mr_Derivatives) July 21, 2025