KOBEISSI:

“.. The "stealth" bear market is in full-swing. While the Nasdaq 100 erased -$4 trillion in 25 days, the ‘S&P 500 Excluding AI’ hit a RECORD high on Friday.”

‘The chart below shows the trailing total 12-month capex/revenue ratio for SPX constituents using point-in-time membership figures. We have blown through anything seen in the dot-com era and show no signs of slowing.’ blinks.bloomberg.com/news/stories...