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Well, that's a wrap! While many assume the "coast is clear" following last week's tech rout, the current market action appears to be a retrace of the carnage. Furthermore, according to ZeroHedge, "Hyperscaler CDS spreads hit a new record wide today." This is all occurring alongside record-breaking retail inflows into leveraged long ETF positions. The chart below is NOT what you see near the start of a new bull run, rather what culminates into a final Bull top. Source: Zerohedge

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