CNBC Options Action July 12, 2024
Weve been in a momen speculative excess that was going on in fact in january and february, then the plunge and the ricochet. Lets look at a few slides to try to prove it, so to speak the precondition of excess you see these bullet points here basically s p 500 before this selloff this week at an alltime high the price to sales, a fundamental on measuring the valuation, at an alltime high the s p 500 is up 42 and the nasdaq up 57 . The precondition of excess the next slide, divergence as the market is making oe inine highs only 16 of the s p constituents were making ofe ii alltime highs the ave...