From JPM: • Momentum crowding flashing RED at 99.8%ile – fastest increase ever. • Last seen at the peak of 2000 Tech Bubble. • Equity investor positioning near prior highs. • Momentum often becomes crowded – leading to inevitable momentum crash. Stay nimble.
@MacroCharts Very Interesting. Is your Core Panic/Capitulation model indicating something similar ? A momentum crash will likely impact S&P Index significantly as well - given how polarized the trade has been ?
@MacroCharts This is not looking good... unemployment levels starting to rise too...
@MacroCharts JPM needs a crash to get anywhere close to their year end SPX target of 4200
@MacroCharts Probably fine "It’s a new bull market" 😉
@MacroCharts First reached this level well before the 2000 top.