sp'daily5
VIX'daily3
Summary
The equity week began on a positive note, with the SPX battling upward, with a micro ramp into the close, to break a new historic high (if fractional) of 3288.
Meanwhile...
CNBC recognising that even the 'money-losing companies' are also continuing to broadly rise. Spotify (SPOT) was downgraded by Evercore today, on the notion that the sector will remain unprofitable. Did they really just realise there is no money to be made in music streaming?
Regardless, it is the case that (most) of the garbage also climbs within a bull market... a natural mirror to when the best companies are dragged lower within a bear market.
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Volatility naturally remained subdued, with the VIX settling -1.9% at 12.32. Tuesday will threaten a turnaround, even if the first set of financial earnings (JPM, C, and WFC) come in broadly as expected.
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Yours... hyper bullish the Witcher and his Bard. Eight episodes of 100% magic.
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Goodnight from London
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