Remember when the stock market peaked in February 2021?
That’s when the New highs list peaked. That’s when the Nasdaq Advance-Decline line peaked. That’s when Chinese Internet Peaked. That’s when Biotech peaked. That’s when all the ARKK funds peaked.
February 2021 is when everyone had a SPAC.
This group of “Special Purpose Acquisition Companies” was a poster-child for the excess environment of Q1 2021.
These SPACs were the biggest pieces of hot garbage on the market. And everyone wanted them.
And then the market peaked and their prices came tumbling down.
Now here we are, 18-months later. And they’ve just decided to delist the SPAC ETF $SPAK.
A sign of the times?
We’ve come full circle.
If the popularity of SPACs was a sign of the top?
What does the delisting of this product say about how far we’ve come?
Every week we track the ETFs that are being launched or delisted, as an indicator of sentiment.
We treat these in a similar way to the Magazine Cover Indicator. By the time they figure out that an ETF should be launched, or delisted for that matter, it’s usually very late in that trend.
Premium Members check out the rest of our Saturday Morning Chartbook here:
We’ll be going over everything in this market this upcoming Tuesday 9/6 @ 6PM ET during our next Live Video Conference Call.
Premium Members can register here, if you haven’t already.
If you still don’t have access to Premium, just give us a call at 323-421-7991 and the team will hook you up.
Tuesday’s call is going to be an important one.
So if it’s easier you can also contact us here to join.