"short base building in small caps (seen this before?) … spot and call vol are moving in the same direction (rare) … megacap call volumes are explosive (earnings + massive numbers)."

"...lift the hood and the picture is not so healthy."

Same level, same story, 11 months later...

"OpenAI will immediately start utilizing AWS compute as part of this partnership, with all capacity targeted..." 

 

If anyone expected the newsflow to slowdown, we have some bad news for you. 

" It’s wrong now that we seem to be driving it..."

"They’re serious people, not the type to walk in talking about how nice the weather is."

 

The euro has weakened to a three-month low, but it is mostly driven by dollar strength than euro-specific reasons...

"Earnings growth is there, the momentum is there and on a macro level — although it’s still very volatile — things are moving in the right direction" 

For some light reading, I think I’ve identified the four horsemen of the next stock market apocalypse...

Maduro urged Moscow to send missiles & radars...

What we’re witnessing appears to be the calm before a significant storm, with indicators pointing toward what could become the largest capacity washout in trucking history.

"99.5% of Portland General Electric customers are fine. It's just the immediate area surrounding ICE." 

KOSPI is in full parabolic mode — the 200-day is miles behind and monthly RSI is hitting its highest since 2007.

Trump released a warning on Saturday to Nigeria’s government if it doesn’t act.

Fab Five (Plus a Few More): When the Bullish Charts Won’t Stop Coming.

European bourses are firmer following constructive EU-China trade developments, US equity futures also gain

"We've solved the invention phase of AI. Now it’s an engineering problem to make it work everywhere - in every industry,every device" said Jensen Huang

Half-trillion-dollar spend, collapsing cash flow, zero ROI—yet still “no signs of pulling back.” Sounds sustainable.

Watch these levels in bank stocks; tech spreads; junk bonds; bitcoin; and job losses...