US once again motored on with fresh all time highs for both S&P and Nasdaq... led once again (shock horror) by mega cap tech... as the July 'seasonality' effect once again seemingly in full force.
Goldman Sachs macro trader, Bobby Molavi notes that the narrowness of the market now too much of a feature to warrant mention as we edge closer to the big 7 accounting for 30% of the market...and a ham and eggs contribution from one of them to offset any momentary weakness elsewhere (this week Tesla's 20% rally the kicker from a less likely source).
[ZH: As @SentimenTrader noted on X: we're in a bizarro world:
