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“The selling pressure culminated in a decisive distribution day on the Nasdaq, as the technology-heavy index closed below its 50-day moving average for the first”
@markminervini
Nasdaq printed a decisive distribution day below its 50-DMA on above-average volume, ending months of AI/tech leadership — index likely heads lower.
XYZ100SHORT@ $29,314.17
$28,068.23+4.25%
since call Jun 24
peak +8.0%
“By most measures, stocks look overextended. The total stock market capitalization relative to GDI is at a record high, and very close to the reading reached at ”
@markminervini
S&P 500 total market cap vs GDI hit a record high matching the 2000 peak, signaling extreme overvaluation that historically leads to negative returns 3-9 years out.
SP500SHORT@ $7,392.80
$7,375.87+0.23%
since call Jun 24
peak +1.1%
“Market leadership narrowed noticeably as capital rotated toward more defensive sectors.”
@markminervini
Investors are rotating out of tech into defensives; Utilities leading with relative strength as capital seeks safety during the Nasdaq leadership breakdown.
XLULONG@ $45.32
$44.98-0.74%
since call Jun 24
peak +2.9%
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