The major indices are trading slightly higher so far this morning as an extended/overheated market bumps into a complicated night of headlines.
In the short-term, it appears sentiment is starting to get a bit overheated with short-term sentiment reaching near 1yr highs.
Equity Put/Call Ratio reached a 4 handle yesterday, indicating some signs of excess/frothiness.
Underneath the hood, the action in recent days has been very mixed. Lower quality/high beta pockets of the market are leading while high quality segments (and previous leaders) are lagging.
Big Tech has lagged Non-Profitable Tech for 7 straight days, its longest losing streak in several years.
