The A.I. story has come and gone and the recession that they've been telling us about all these years is finally here?
So this is a major top in Nvidia - ending the whole damn thing?
That's your bet?
And this massive top in Microsoft is exactly that - a historic top? One for the record books?
So the largest company on the planet is about to complete this 8 months of institutional distribution and is about to bring down the entire Technology sector?
Keep in mind that Nvidia and Microsoft combine for over 41% of the S&P Technology Index. (Apple is only 5% of Tech now)
Here's what I'm being told is the end for Microsoft...
Is that the bet you're making?
This is the end of the bull market?
Because I see Consumer Discretionary as the leading sector over the past month. Look at those returns, all outperforming the major averages by a long shot:
And another thing.
You know how we've been pointing out that High Beta has severely underperformed Low Volatility?
Well look at this monster whipsaw.
Keep in mind that Technology and Consumer Discretionary represent a huge weighting in the S&P500 High Beta Index.
High Beta outperforming is indicative of a risk-on environment being driven by Tech and Consumer.
Historically in bull markets, Tech and Consumer tend to do very well and outperform.
