1. Most Bullish Bounce Back from -20% Correction Ever

It’s worth noting how much of a historic run this has been after a 20% drawdown for the S&P 500. It’s on track to have one of the most bullish bounces ever from a 20% drawdown.

Source: Jurrien Timmer  Eric Soda Spilled Coffee Blog https://www.spilledcoffee.co

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2. Here is the Historical Forward Data Behind Above Chart

The NASDAQ 100 is just -2% below its all-time high. It was down -20% just 2 months ago. Historically, sharp rallies like this were bullish.

Zach Goldberg Jefferies

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3. Biggest Volatility Crash in History

Charlie Bilello

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4. AI Adoption Tracker

As for the AI adoption rate, analysts found that as of May, approximately 9.2% of U.S. firms reported using AI in the production of goods or services—up from 7.4% in 4Q24.

ZeroHedge

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5. Palantir Retail Trading Favorite….More Trading Volume than Amazon

Amazon, for example, reported that it employed some 1.556 million people at the end of last year. Palantir’s roster was closer to a very large high school, at just 3,936, meaning that the e-commerce giant employs 395x as many people as Palantir, but its shares are less liquid. Even tech juggernaut Apple has been traded less than Palantir.

Sherwood

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6. Polymarket Recession Odds Sinking

VettaFi

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7. Most of Asia and Europe has Demographic Disasters Coming….Empty Homes

Michael A. Arouet

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8. Foreign Buyers Step Back

NYT: Foreign buyers have long powered South Florida’s condo market, but many are now pulling out because of high interest rates, expensive prices and, more recently, restrictive immigration policies.  The Miami Association of Realtors reports that home sales to foreign buyers dropped to 10 percent of all transactions in the region from August 2023 to July 2024, the lowest level since 2015 and a stark drop from 50 percent in 2018.

The study polled nearly 2,400 real estate agents in South Florida’s Miami-Dade, Broward, Palm Beach and Martin counties. Foreign buyers were defined as those who were not U.S. citizens and whose primary residence was abroad, as well as U.S. visa holders for at least six months and green card holders for less than two years.

NYT

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9. The Cost of College in U.S. and the Proposed Cutting of Pell Grants

CNBC

CNBC

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10. Focus Requires Subtraction

Via FS:Most people are too loyal to their distractions to ever meet their destiny.

The courage isn’t in taking on more, it’s in cutting off everything that doesn’t feed your goal.

Focus requires subtraction.

1. Not the Sign of a Top…AAII Bull/Bear Sentiment Survey Just Had 15 Straight Weeks of Negative Readings…5^th Longest Streak Ever.  Historically Bullish

What is AAII Sentiment Survey?

Dorsey Wright Nasdaq

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2. Not the Sign of a Top…Margin Debt Skyrockets Near Tops in Markets…Going Down in 2025

YCharts

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3. Not the Sign of a Top…Investors Bought the Dip Now Selling Rally

Macro Charts

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4. MAG 7 Spending Huge of AI Capex Sending Free Cash Flow (FCF) Down

Equities: Excluding NVIDIA, the Magnificent 7’s year-over-year free cash flow growth has turned negative. The sharp rebound in 2023 was driven by cost-cutting and headcount reductions following the “metaverse” bloat, but that tailwind has faded as AI-driven CapEx ramps up, pressuring cash flows once more.

Source: @KevRGordon, @StrategasRP Daily Shot Brief

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5. Dollar Chart Turning Back Down…Chart to Watch 2025

StocKCharts

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6. Weak U.S. Dollar Key to International Equities Reversion to Mean Trade

Capital Group

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7. June Bearish Month

Bespoke

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8. The Democratic Republic of Congo Produces 76% of World Cobalt

Markets & Mayhem

Perplexity

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9. Mexico and Canada 40% of US Steel Imports Last Year

Reuters

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10. Ten Science-Based Tools for a More Peaceful Mind

Learn about a few simple strategies for cultivating a peaceful mind.

Key points

• The body’s stress response includes sympathetic nervous system activation and the release of stress hormones.
• A relatively simple way to start calming the mind is by using visualization.
• Research shows spending time in the wilderness, a park, or even your front yard may benefit your well-being.

Via Psychology Today: A peaceful mind may be defined as a state of calmness or tranquility that is free from worry, ruminative thoughts, or other types of busy, frenetic thoughts. Oftentimes, we spend too much time thinking—thinking about what’s to come in the future, what’s happened in the past, or even what’s going on right now. When we do this, we make it difficult for our minds to calm in ways that are good for our well-being (learn more about your well-being with this well-being quiz).

There is much research on how we can decrease our distressing thoughts and calm the body. For example, we know that the body’s stress response includes sympathetic nervous system activation and the release of hormones like cortisol, norepinephrine, and epinephrine (Charmandari, Tsigos, & Chrousos, 2005). All of these make us feel wired, and this makes it difficult to have a peaceful mind. That’s why some of the techniques we’ll discuss below target the body directly. Once we help the body calm down, the mind can more easily follow.

1. Visualization: A relatively simple way to start calming the mind is by using visualization. To try it, simply imagine yourself in a peaceful place. While visualizing yourself in this place, try to look at the world around you. What do you see, hear, and smell? If you can get your mind to imagine you’re in a place that makes you feel peaceful, your brain and body actually react as if you are in that place (Quoidbach, Wood, & Hansenne, 2009).
2. Doing things you enjoy: Sometimes we get stuck in a clouded mind when our lives are dull, stagnant, or uninspiring. That’s why doing things you enjoy may help put your mind at ease. Doing fun things can help stimulate your mind so that when you are relaxing, your mind can fully rest.
3. Going for a swim: Another way to calm the body is to activate the parasympathetic nervous system. Interestingly, immersing the body in cold water helps activate this system (Mourot et al., 2008). So if you’re feeling your mind racing, go for a swim in cold water or even take a cold shower.
4. Getting outside: Perhaps one of the best ways to put your mind at peace is to get outside. Research shows that spending time in the wilderness, a park, or even your front yard may be beneficial for your well-being (Ulrich & Parsons, 1992). The outdoors offers so many different things that can help soothe the mind—fresh air, sunlight, and breathing in the scent of trees are all good for our health. Try to spend at least 15 minutes outside each day.
5. Meditation: Meditation is a commonly used strategy when we want a more peaceful mind. The goal with meditation is to clear the mind of thoughts and just be present, often focusing on the breath.
6. Listening to music: One study showed that listening to peaceful, relaxing music can reduce cortisol, a key stress hormone (Khalfa et al., 2003). In particular, binaural beats (i.e., when two tones with slightly different frequencies are played to each ear) seem to be beneficial and can even help improve performance (Garcia-Argibay, Santed, & Reales, 2019). Given the research, listening to soothing music may be another simple way to put the mind at peace.
7. Practicing yoga: Yoga can actually reduce cortisol, a key stress hormone (Thirthalli et al., 2013). It’s not entirely clear why, but it might be because yoga involves deep breathing and concentration that prevents us from ruminating on our worries. Doing yoga regularly can be a great way to create a more peaceful mind and a healthier body.
8. Using mantras: Using mantras may be another way to create a more peaceful mind. Mantras are types of chanting that are often used as part of Eastern meditation techniques. Early research suggested that mantras may be beneficial for well-being. Studies show that mantras can result in short-term decreases in stress and depression (Wolf & Abell, 2003).
9. Using massage: Massage is another technique that may be helpful. One study showed that 10, 30-minute massages over five weeks led to a lower cortisol response (Field, 2005). Soothing physical touch does indeed seem to relax us. Whether it’s human-to-human interaction or getting aches and pains out of our bodies, massage can be a useful trick for calming the mind and body.
10. Deep breathing: Deep, controlled breathing has been shown to activate the parasympathetic nervous system. This system is key in helping us de-stress, and it is the counterbalance to the sympathetic nervous system—our fight or flight system. Deep breathing also can quickly reduce anxiety and promote a greater sense of calm (Zope & Zope, 2013). By taking a few deep breaths, we begin to tell our body that things are safe, and the systems that are overactive can begin to mellow.

1. Mag 7 Deliver on Earnings Growth

Mag 7 EPS growth. The Mag 7 reported YoY earnings growth of 27.7% in Q1, nearly 3x that of the Other 493.

Factset via The Daily Chartbook

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2. U.S. vs. China AI Investment

Semafor

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3. Equities: US Earnings Revisions have Rebounded more Quickly Than Those in the Rest of the World

Source: UBS Research; @WallStJesus via Daily Shot Brief

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4. URA Uranium Chart Breakout

StockCharts

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5. CEG Deal with META…Breakout to New Highs

StockCharts

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6. Japanese Stocks Sold

Japanese equity funds logged their largest weekly outflows in nearly 18 years in the week to May 28, as investors either booked profits following a rally fueled by the then-easing U.S.-China trade tensions or turned cautious on earnings potential.  According to LSEG Lipper data, Japanese equity funds recorded net outflows of $7.49 billion, marking the largest weekly withdrawal since July 4, 2007.  Some of the flows could also be due to rebalancing by Japan’s massive life insurance and pension firms as they sell rising stocks and buy bonds to maintain asset ratios, analysts said.  Another headwind has been the yen, which has appreciated 10% against the U.S. dollar so far this year, potentially eroding export profitability. LSEG data shows analysts have downgraded forward 12-month earnings estimates for Japanese firms by 1.8% over the past 30 days.

From Dave Lutz at Jones Trading

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7. U.S. Direct Lending Fundraising Record

Consider an estimate of the future performance of business-development companies. These are listed funds that raise public equity to invest in private loans. Back in 2021, the average BDC’s annualized return on equity was 14.9%, according to figures from a recent letter by Easterly to shareholders of Sixth Street Specialty Lending. But in the letter, Easterly estimated that at the level of base rates expected by the market over three years, plus typical spreads for loans in the fourth quarter of 2024, the forward return on equity for a BDC would be 5.2%.“At these spreads, the sector is not earning its…cost of equity,” he wrote.

WSJ

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8. Office Delinquency Rate Spikes Back to New Highs

Wolf Street

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9. 10 Million Driverless Rides

Morning Brew

Now that Uber and its ilk have made the luxury of a personal driver like Miss Daisy’s available to the masses, the next big thing is starting to gain popularity: not having a driver at all.

Alphabet-owned Waymo recently surpassed 10 million paid driverless rides, and is poised to see 20+ million by the end of the year, the Wall Street Journal reports. And that’s with the self-driving taxis only available in a handful of cities, including tech’s spiritual home of San Francisco. Its rise has been rapid as people in those cities stopped seeing cars with no one in the driver’s seat as a threat and started seeing them as a convenient way to get around. Per the WSJ:

That means riders beyond early adopters are now willing to hop in a driverless cab. A recent viral post on X suggested that data firm YipitData showed Waymo going from 0% to 27% of San Francisco ride shares between August 2024 and April 2025. Bloomberg reported in April that the same data firm found 20% of Uber rides in Austin during the last week in March were Waymo rides, just weeks after a partnership between the two companies rolled out there.

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10. Which Inbox?-Seth’s Blog

It’s easier than ever to fall into an inbox mindset. There are things to do, and we do them.

Inbox zero is the unattainable goal that fills our days.

But it avoids the real question, which is: which inbox are we emptying?

There’s the inbox of urgent texts. Or the inbox of slightly less urgent emails. Or the inbox filled with spam, perhaps hundreds of thousands of emails that aren’t really an inbox.

But what about the inbox of our financial planning? Or the inbox of the people we care about, who might appreciate a hug or a wave?

There’s the inbox of the chronic degeneration of our house or our community or our climate, the one that will respond really well to attention now, not nearly as well later.

And there’s the inbox of peace of mind, the healing and regeneration that happens when we set the other inboxes aside for a bit.

1. Semiconductor ETF Closing in on Highs

StockCharts

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2. Momentum ETF Makes New Highs as Tech Takes Lead Again

StockCharts

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3. 2023-2024 20% Returns Narrowest Market Leadership in 25 Years

VettaFi

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4. Aerospace/Defense ETF Spikes to New Highs

StockCharts

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5. Uranium Spot Price Has Not Spiked with Stocks

WSJ

Trading Economics

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6. Junior Gold Miners +50% Year to Date But Still Down for 15 Years…Look at Highs in 2010

Google

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7. Asian Retail Buyers Driving Gold Buys…American Retail Buying Technology Stocks

Current retail demand is mainly driven by Asian investors, while U.S. and European investors are nowhere to be seen.

MarketWatch

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8. Silver One-Tick from New Highs

StockCharts

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9. Retail Investors Did Not Panic in 2025 Sell Off…..401(k) savers stayed on course through market volatility, Fidelity found

Via Yahoo!Finance: Retirement savers reached an average savings rate of 14.3% in the first quarter, a new record. Kerry Hannon · Senior Columnist

Retirement savers weathered a chaotic stretch of market gyrations in the first three months of the year, consistently adding to their savings, according to Fidelity Investments’ quarterly analysis.

While they experienced a drop in average 401(k), 403(b), and IRA balances, mostly due to market swings, savings rates remained consistent, with the average 401(k) savings rate increasing to a record 14.3%.

“We saw a lot of positive savings behaviors among employees,” Mike Shamrell, vice president of workplace thought leadership at Fidelity Investments, told Yahoo Finance.

“It was really encouraging to see that despite a lot of things going on, and economic ups and downs, people continued to save and didn’t pull back, or make a lot of changes to their asset allocation,” he said. “As a result, we saw the individual 401(k) savings rate increase to the highest level that we’ve seen.”

To break it down, the average employee contribution rate was 9.5%, and the employer contribution rate was 4.8%. This combined savings rate of 14.3%, up from 13.5% in 2020, is the closest it’s ever been to Fidelity’s suggested savings rate of 15%.

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10. Send to Your Kids

Ben Meer

1. Hated Stock Rally…Highest Short Interest Since 2018

The Market Ear

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2. U.S. 5x Number of AI Funded Companies vs. China

Semafor

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3. ChatGPT Traffic Passes Wikipedia

Sherwood

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4. Stock by Stock Mag 7 Rally

Cresset Capital

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5. Silver Clear Breakout

StockCharts

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6. Tesla -10% Correction this Week

Google

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7. REITS Most Hated Sector…Contra Play?

@Callum Thomas (Weekly S&P500 #ChartStorm)

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8. Buffett Stock Approaching 200-Day

StockCharts

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9. BRICS Summit in Brazil this Summer

Not A Motley Crew-Zerohedge: While the Leaders’ Summit is an annual event, it does not occur at the same time each year. The exact date depends on the schedules of the leaders themselves as well as seasonal conditions in the host country. The overall leadership of BRICS+ is a rotating presidency among Brazil, Russia, India, China and South Africa. Last year, the summit was held in Russia in October with President Putin as host.

This year Brazil has the rotating presidency and the summit will be in Rio de Janeiro on July 6 – 7, 2025. Brazilian President Luiz Inácio Lula da Silva is host. All of the founding BRICS leaders are expected to attend including Lula da Silva (Brazil), Vladimir Putin (Russia), Narendra Modi (India), Xi Jinping (China) and Cyril Ramaphosa (South Africa), along with many others.

A brief comparison of the combined resources of the first five BRICS members with the resources of the G7 (U.S., UK, Germany, Italy, France, Japan and Canada) is instructive.

In terms of population, the BRICS have 3.3 billion people compared to 0.8 billion in the G7. The total land area is 39.7 km2 for BRICS versus 21.7kn2 for the G7.

Real annual growth in GDP is about 5% for the BRICS versus 2% in the G7. Nominal GDP for the G7 leads the BRICS by $45.3 trillion (43.7% of global output) compared to $26.7 trillion (28.7% of global output). But when purchasing power parity accounting is used, the BRICS lead G7 $51.6 trillion to $48 trillion.

The point is not that the BRICS are overtaking the G7 across the board – they’re not. The point is that the BRICS are a powerful group demographically and economically and not a motley collection of what were once called third-world countries.

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10. Mark Cuban Following Henry Hazlitt on Basic Economics….New Technology Creates More Jobs Long-Term Always.  Every Tech Revolution Sees Predictions of 20% Unemployment

Mark Cuban

Perplexity