Something remarkable is taking place in the markets: despite a near record 10 out of 11 weekly drops in the S&P500…
… and a now unprecedented and record 11 of 12 weekly declines in the Dow Jones average…
… retail investors are buying the dip, again and again and again and so on. And not only that, their buying gets more aggressive the lower stocks slide.
According to the latest EPFR data, investors plowed a whopping $16.6bn to stocks, all of it passive of course, with $32.3BN to ETFs offset by $15.7bn from mutual funds, bringing the YTD ETF inflows to $328BN vs $117BN in long-only outflows.
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