Overnight, we shared thoughts from Goldman's trading floor on yesterday's momentum rout. And as the momentum carnage extends into a second day (HIMS getting obliterated today, with continued selling in RDDT, PLTR, OKLO)...
... below we share the thoughts from the latest Market Intel note by JPMorgan's Andrew Tyler who writes that given the strong move lower in the session, "we have received a number of incomings as to whether this is the beginning of a sell-off (light version) or end of the bull market (heavy version) and whether there are any ties to a factor (Momentum) unwind." Tyler adds that while there do not appear to be any headlines/news catalysts, "the sense from folks on both Cash and Equity Derivs is that it feels a bit “unwindy” today."
