SPX Rally Exhaustion Peak Risk
U.S. stocks appear to have hit a top as all the good news from corporate America has been mostly priced in.
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
"Nearly 50% of the largest US stocks have underperformed T-bills since 2022."
"They said investors have been pumping more money than usual into U.S. stock funds, which helped fuel 'the fastest rebound in decades; now the pendulum could swing backwards.'"
"The U.S. stock market is edging back from its all-time high Thursday following mixed profit reports from Tesla and other big companies."
"U.S. stocks are giving back a bit of their record-breaking rally."
"the broad U.S. stock market has been facing criticism that it’s shot too high, too fast and become too expensive."
"The survey found fund managers are holding a notably small percentage of their overall portfolios in cash, similar to 2002 and 2011, which preceded tougher times for riskier investments."
""Market valuations stand at one of the three great bubble extremes in US history, rivaling the peaks of 1929 and 2000.""
"US stocks are near their most expensive levels in over two decades, relative to the debt market."
"US stocks are near their most expensive levels in over two decades, relative to the debt market."
"that basket of stocks had underperformed the S & P 500 by 2.4 percentage points so far this year."