Markets

In this week’s podcast, we are unpacking today’s stretched market valuations—why they’re really concentrated in just a handful of the largest stocks, why small and mid-sized companies may actually be trading below average, and how investors should think about growth versus price.

From the Market Ear: Put hate is back Put call ratio imploding again… Mini top? SPX could be putting in a mini double top here, with the second high slightly lower. Note the 21 day and channel lows come in around 6650 (futures).

From the Market Ear: Mighty NVDA NVDA takes out resistance levels, breaking above the consolidation that has been in place since mid July.

The explosion of artificial intelligence has triggered one of the largest capital expenditure booms in history.

From the Market Ear: The 4k magnet Gold continues marching higher.

From The Market Ear: Here we go DXY breaking above the negative trend line, closing well above the 50 day… and attempting the 100 day.

From the Market Ear: Can’t put a good man down SPX has gone 107 sessions without posting a drop of at least 2%…its longest streak since July 2024.

From the Market Ear: Tech spending Without tech spending the US economy would be close/in a recession. DB points out: 1. Good news: The AI super-cycle — with NVIDIA effectively carrying the US economy — is offsetting demand (tariffs) and supply (immigration) shocks.

From the Market Ear: AI mania Consecutive sessions higher for the AIQ… Momentum mania “Our high beta momentum winners basket just rallied +11.5% last week (following an +8.8% gain the week prior).

From the Market Ear: Déjà Vu All Over Again Markets are roaring, but the setup is eerily familiar.

From the Market Ear: Here we go Russell takes out massive resistance area.

From the Market Ear: Room to run SPX continues to trade inside the short-term trend channel that has been in place since late May.

From the Market Ear: AIQ at the most overbought levels since July 2024…just before markets crashed.

From the Market Ear: Comfortably numb The S&P 500 officially hits 6,600 for the first time in history, now up +36% since its April 2025 bottom.

From the Market Ear AAII bull – bear spread vs.

Asian share markets are snapping back after rallying most of the week with the USD pushing higher after making gains against most of the undollars overnight as the Trump regime indicates it probably won’t fire Fed Chair Powell.

The Market Ear on the short squeeze.

Short squeeze on deck. The Market Ear. Nasty McElligott sums it up well. This is the scenario nobody (few) wanted: “…positioning and leverage exposure de-risked, Macro-Bearish and underweighted the “Mag8” U.S.

The Market Ear on diving US leading indicators.

It kind of crashed last night.

From the Market Ear: Is Nvidia’s great bull run over?