Software vs. S&P 500: just hit a 16% 10-day Rate of Change. ​Historically, moves of this velocity have only happened 5 times in the last 45 years. ​Even though we're seeing some of the fastest short-term momentum spikes in history, the overall trend is currently breaking down.

Biggest World market cap gains and losses week 11: Losses: Gains: $AAPL ($108) Aramco $64 $MSFT ($100) $MU $63 $META ($79) $NVDA $59 $AMZN ($60) $GOOGL $42 $AVGO ($40) $TCEHY $33

Week 11 S&P 500 Returns by Sector Losses: Gains: $FICO -23% $SNDK +25% $CNC -21% $MU +15% $PSKY -19% $CIEN +15% $ULTA -17% $CF +12% $CPB -16% $MOS +11% $CAG -14% $WDC +11% $AXON -14% $DOW +10% $GDDY -14% $STX +9%

Semis within the S&P 500 EPS has surged +1,219% since 2012. $NVDA $AVGO $MU $AMD $LRCX $AMAT $INTC $TXN $KLA $ADI

Energy Sector: 50-DMA relative to 200-DMA. $XOM $CVX $COP $XLE

Market bottoms coincide with peak fear. When the bull-bear spread drops into negative territory, it signals that the selling pressure has likely exhausted itself.

👍Pretty clear and repeatable relationships on that chart. Where are we going this time......

The current reading of 1.12 is a "high-fear" event that has historically served as a strong buying opportunity for the S&P 500, particularly for investors with a time horizon of 1 to 2 months.

After hitting a peak in February, the German Dax Index has officially entered a correction, dropping 10%. $DAX $EWG

Software has recently surged relative to the S&P 500 at a pace rarely seen since the 2001 bubble era. Historically, these spikes act as "exhaustion" signals or markers for major turning points. $MSFT $PLTR $ORCL $IGV

Biggest World market cap gains and losses week 12: Losses: Gains: $NVDA ($184) Samsung $63 $MSFT ($102) SK Hynix $45 $TSLA ($87) $LRCX $20 $LLY ($70) $ARM $17 $WMT ($60) $EQNR $16 $AVGO ($55) $XOM $15