Stat box
On Thursday, the S&P 500 closed within 1% of its high but more than 40% of its stocks plunged to a 1-month low. Going back to 1927, this is a record amount of stocks at 1-month lows with the index itself being within 1% of a 52-week high. |
Etcetera
Hedging bets. The Equity Hedging Index has dropped below 5 for only the second time in history. This shows that investors are employing very few hedging strategies.
Sliding silver. The SLV Optimism Index has reached its lowest point since August 2020, sitting at 6%. This is a sign of extreme short-term pessimism in silver.