The Blubber

Per Bloomberg

The S&P 500 has been on a bullish trajectory, and with it, many short sellers are losing big bucks, according to Ortex estimations. In total, it was reported that these short sellers lost $37 billion in June alone.

Adam Philips, EP Wealth Advisors managing director of portfolio strategy, shared a statement regarding the situation. He noted what their data showed regarding the outlook on the market.

Phillips: “Sentiment is not extreme but it is stretched, and recent surveys suggest it won’t provide the same tailwind to stocks going forward... As we look to the second half, we expect the market to be put to the test as investors demand results to justify recent performance.”

Yardeni research president, Ed Yardeni, shared how the sentiment regarding the market could be a "cautionary flag." Yardeni was reportedly an early advocate of the bull run.

Toward the end of March, it was reported that the Nasdaq 100 rose 20% from its December low, which resulted in it entering a technical definition of what a bull market was.

Recently, it was noted that Goldman Sachs shared its bullish estimates on the S&P 500, believing that it would rise by 7% over the next 12 months.

See flow at unusualwhales.com/flow.

Other News:

• Nasdaq 100 rises 20% from its December low to enter a technical definition of a bull market
• Goldman Sachs shares bullish estimations on S&P 500, believing it'll rise by 7% over the next 12 months

Resources:

Bloomberg