https://seekingalpha.com/article/4185919-fireworks-start-q3

Lance’s weekly update has a very interesting data set that I assumed was true, but had not seen it so easily / clearly described.   I am leaning toward another longer term position in SPY Puts …

Here is the data set – “copied”

However, with the ongoing trade war rhetoric brewing between China and the U.S., a negative surprise certainly maintains a high enough probability to pay attention to.

As I noted over the last few weeks, participation remains concerning as Bob Farrell’s rule #7 states:

“Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names.”

For the year, 10 stocks have made up almost entirely all of the gains of the market. Actually, a better way would be to say:

“The top-10 stocks have more than offset the losses from the rest of constituents so far this year given the markets are only up 3.22% ytd.”

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