Blanc Charts

The S&P 500 is up 12% YTD with a 9% drawdown... we are pacing for an extremely normal year. JPMAM $VOO

Cybersecurity is the runaway winner in software this year, gaining +85% YTD $CIBR $HACK

Tech P/E drifts further down to 20.5x @dualityresearch $XLK

After falling -80% from its record high, Nike, $NKE, will be removed from the S&P 100 at the end of this month, ending a near 18-year run in the index. The stock has now erased -$230 billion in market cap since its all time high. A collapse for the history books.

$NBIS

At the start of the year, analysts were forecasting 15% earnings growth for the S&P 500 in 2026. The current project: a 34% increase, which would be unprecedented growth this far into an economic expansion (6 years). $VOO

for the the S&P 500 as a whole, it was a historic quarter, with the biggest upside surprise in history (52% YoY earnings growth vs. 23% expected entering the quarter) and a new record high for net profit margins (17%). $VOO

Nvidia’s net profit margin of 66% so far this year is another all-time high. $NVDA

Translation: the rate the hikes are coming. The market is now pricing in a 60% chance of a Fed hike at the September 16 meeting, with the odds going up to 70% by the October meeting and 85% by year-end.

10-years rolling returns are now at -2% for 15+ years treasuries.

Fear and Greed at 42, a year ago it was at 61 and a month ago at 59. The market can go up together with F&G going down. Investing is hard

Too many bears, or the market is over-hedged...$VOO

TopDown Charts: investors don't like anymore real estate, so it is a contrarian bullish sign. (maybe)

$BE joins S&P500. and the stock is above 266$ already, the 100$ call already jumped above 160$ https://finance.yahoo.com/quote/BE/options/?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEQk8LSMi_gQCJcmDbGXnMULfZxWtsC7upACsWrnzaNTBYFARfr_bkjMGJrO6eZRjzEoDEjQthcOHwsUl_GMdeLC_XrQTKvdAT0JD3ER6LP5u2ZbCveI17e1g0iIciEX6hy7HWJ4IkASNt8SEeYfXFYjYuq347umuidXuXsVurRs&_guc_consent_skip=1788599182&date=1813190400&strike=100

Gold vs. SPX. "A fading correlation between bullion and risk assets like equities ... suggests gold's traditional value as a hedge has returned after a period of speculative trading."

Nigeria > more babies were born last year than all of Europe combined (including Russia)

$COHR back at the 200

$DRAM

Meanwhile, the S&P 500 PEG ratio is near its 30 year low $VOO

… and since 2009 from sep 3 until Dec 4 the performance was positive in 100% of cases