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How Stocks Could Go From Selling Off To Melting Up
If investors can overcome the psychological albatross that is "pure tariff chaos" and assuming cold-
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It’s called buy the dip 😉
Love these flow pieces.
SPX is down a measly 170 pts from the highs…what dip are you talking about
Agree with Wave Dash. Thanks for posting these.
Realizing that this analysis is short term focused, I’m curious what the longer-term charts look like. Just in case we are at the beginning of some sea changes which may weaken the forces and flows which have underpinned much of the recent rallies.
Specifically, if the AI cannonball continues to erode the massive and unrelentless share buybacks. As you’ve rightfully reminded us, buybacks are the largest source of buying. By a large measure.
If I’m honest, flows explain all but the longest of long-term price action. If your investment horizon’s “forever” (which, ironically, mine generally is), then nothing except starting valuation matters. Anything short of “forever” demands an understanding of flow dynamics and, more specifically, market structure.
This reminds me of an investing discussion I was having with a couple gentlemen during a two-week rafting trip down the Grand Canyon. I told them I was looking for long-term returns. They asked how long the long-term was. I said I guess it was when I was pronounced dead. They found that answer to be unsatisfying.