TOPLEY’S TOP 10 June 28 2024

1. Nasdaq 100 Short Interest Chart

Shorts are dead

2. Largest Weekly Inflow Ever to Tech Funds

3. July Seasonality for Nasdaq

Dave Lutz Jones Trading 
Nearly a quarter of all 1-month peaks in the Nasdaq 100 happened in July.  That’s twice as many as any other month.  Quite a few factors lining up for a short- to medium-term peak soon.

4. Top 10 Companies in U.S. Equals GDP of China

5. Home Construction ETF Flat for the Year

ITB -15% from highs…flat in 2024

6. Micron -15% from Highs

MU pulling back to 50-day moving average.

7. Gold was Rising with S&P Until May 2024

Gold vs. S&P rolled over in May/June

8. Waymo Full-Time in San Fran-Morningbrew

Waymo’s California dream come true

People who are afraid of talkative Uber drivers, rejoice: Driverless taxi rides are one step closer to ubiquity. Waymo One, the ride-hailing service that employs self-driving white Jaguars, is now available to everyone in San Francisco.
San Francisco is the second city to go full Waymo, four years after the company opened operations to the general public in Phoenix, Arizona. Not to be confused with John Mulaney’s soda-delivering robot friend, Saymo, Waymo was started 15 years ago as a project within Google’s parent, Alphabet. Multiple tests and destroyed cars later, it stands out as a pioneer in the nascent robotaxi space.
And it could be coming to a city near you. Waymo currently offers limited service in Los Angeles and plans to start operating in the San Francisco of Texas—Austin—later this year.
Everyone’s cool with this?
Waymo’s success makes it almost easy to forget that it’s had plenty of hiccups:

  • As recently as last month, a probe by the US Highway Traffic Safety Administration discovered safety incidents relating to Waymo’s cars.
  • Waymo recalled software in all its cars earlier this month after one crashed into a telephone pole.
  • In February, a San Francisco crowd set a Waymo car on fire.

And yet, Waymo is still cruising. The company said 300,000 people were on its San Francisco waitlist before it opened to the public. Waymo claims that its cars have driven riders over 3.8 million miles across SF as of April.
Its next goal…make money. As the company vies for a piece of the market dominated by Uber and Lyft, it hopes to find a way to be profitable and make back some of the billions that Google has spent to develop it.
Zoom out: Waymo is the future of the US robotaxi industry. Its closest competitor, GM’s autonomous vehicle unit Cruise, had its licenses in California suspended in October after a series of collisions.—CC

9. Value of U.S. Homes by State

10. Wealth Building

By Morgan Housel @morganhousel
Here’s how the U.S. economy performed over the last 170 years:

But do you know what happened during this period? Where do we begin …
1.3 million Americans died while fighting nine major wars.
Roughly 99.9% of all companies that were created went out of business.
Four U.S. presidents were assassinated.

  • 675,000 Americans died in a single year from a flu pandemic.
  • 30 separate natural disasters killed at least 400 Americans each.
  • 33 recessions lasted a cumulative 48 years.
  • The number of forecasters who predicted any of those recessions rounds to zero.
  • The stock market fell more than 10% from a recent high at least 102 times.
  • Stocks lost a third of their value at least 12 times.
  • Annual inflation exceeded 7% in 20 separate years.
  • The words “economic pessimism” appeared in newspapers at least 29,000 times, according to Google.

Our standard of living increased 20-fold in these 170 years, but barely a day went by that lacked tangible reasons for pessimism.
Getting Wealthy vs. Staying Wealthy · Collab Fund