So many people; such a small door…
— Walter Deemer (@WalterDeemer) September 3, 2020
Today in history:
September 3rd marked the top in 1929 following a furious rally fueled by wild optimism, excessive retail speculative behavior and markets disconnecting far above the fundamentals of the economy. pic.twitter.com/bYinCAnljZ— Sven Henrich (@NorthmanTrader) September 3, 2020
As toppy as it gets.
Financial conditions are flashing warning signal for stocks.
Lowest level since the peak of the tech bubble.
Prior lows also preceded or coincided with key market tops.
Tech bust, GFC, EM crash and Volmageddon. pic.twitter.com/JHuY8Sb5Cd
— Otavio (Tavi) Costa (@TaviCosta) September 3, 2020
Half the replies I get on Twitter are attempts to "adjust" valuations that now exceed 2000 & 1929 extremes, as if this is all ok. pic.twitter.com/NTvNYFkLaT
— John P. Hussman (@hussmanjp) September 3, 2020
Fear back on complacent Wall St. Vix jumps by 17% above 30. pic.twitter.com/4sqiLqSvub
— Holger Zschaepitz (@Schuldensuehner) September 3, 2020
Two Giant Growth Funds Suffer Biggest Selling Stampede on Record
After this year’s surge in high-growth stocks, two big exchange-traded funds tracking those companies are losing steam.Both the $65 billion Vanguard Growth ETF (VUG) and the $10 billion iShares Core S&P U.S. Growth ETF (IUSG) posted their largest outflows on record last month, according…