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…
