Overbought conditions

• Equal Weight S&P vs Market Cap: Recent outperformance on equal weight may be short-lived, with Consumer Staples (XLP) looking overextended.

• Yields Curve is steepening.

• Treasuries: Overbought, 2-year yields and Fed Funds spread is at a historic high.

• Bitcoin greatly outperforming Ethereum.

• Data Centers Face Seven-Year Wait power constraints. Here.

One of our indicators is flashing overbought. Wait for a pullback.

S&P: % above 200ma is starting to show exhaustion too.

S&P 500: Longer term trend line

Hasboro: Rumors are they completely reduced their print runs for MTG. Bullish

Dell is starting to pick up again.

Colgate: The toothpaste bubble. Not an AI bubble.

Iced Cortados (Coffee) hit new highs last week. The trend will continue.

Consumer Staples: The largest of the sector are leading the pack.

No one needs to code anymore. Just ask an LLM.

Vintage Magic The Gathering and vintage Pokemon continue to trade sideways. Counterstrike skins on the other hand are strong.

Return always wants its risk payment.

NOT INVESTMENT ADVICE. Only for entertainment.