Summary

• The market has rapidly shifted from extreme bearishness to extreme bullishness, reaching new all-time highs despite ongoing Middle East uncertainties.
• CTA positioning flipped from near-max bearish to extreme bullish, fueling a sharp V-bottom rally and risk-on sentiment.
• The Wall Street earnings outlook remains robust, with AI infrastructure themes supporting the recovery even as supply chain and employment risks linger.
• I now lean neutral, cautioning that the swift bullish reversal may have discounted tail risks too quickly; a slower, steadier advance would be healthier.
• Looking for a helping hand in the market? Members of Ultimate Growth Investing get exclusive ideas and guidance to navigate any climate. Learn More »

Market Turned From Extreme Bearish To Extreme Bullish?

The market is now at an all-time high, even though the war hasn’t yet quite reached a definitive conclusion. Does it surprise you?

If anything, I think

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