Weekly S&P500 ChartStorm - 9 June 2024

This week: low volatility, low correlations, low performance, market concentration, NVDA things, TMT stock valuations, market peaks, penny stocks, long-term global earnings outlook...

Welcome to the latest Weekly S&P500 #ChartStorm!

Learnings and conclusions from this week’s charts:

• Risk pricing is extremely calm (credit spreads, VIX).

• Stock correlations are extremely low (a risk flag).

• The market almost* never peaks in June (*only once before).

• Tech stocks are expensive vs history and vs the rest of the market.

• Buying the biggest stock ha…