S&P 500 and Nasdaq

S&P 500 earnings are now expected to increase by 25% this year. We've never seen earnings growth this high outside of post-recessionary rebounds. An unprecedented boom fueled by massive EPS gains in big tech. Video: www.youtube.com/watch?v=bXzTqIirby8&t=362s pic.x.com/2sBufZcA93

As @JC_ParetsX noted today, the median stock in the S&P 500 has the highest short interest as a % of market cap in about 15 years. In other words, the last time it was up around here was in the midst of the GFC. pic.x.com/ZhHc3aapuZ

Yes, the S&P 500 fell 2.5% last week, but 6 sectors were green and more stocks on the S&P 500 gained than fell last week. pic.x.com/MRwN6UZMd7

Investor positioning has rarely been this heavily concentrated in tech: US equity positioning in large-cap tech is up to 1.0 points, the highest since October 2025. This marks a sharp reversal from -0.4 points seen in late March as the market bottomed. Large-cap tech pic.x.com/WQ2noi3Rbq