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Qeekly Finance Thread - 2026-09-26

A weekly thread to discuss financial matters - from personal all the way up to global.

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Stock market has gotten very narrow though we seem to do this every 18 months or so lately which I think has a lot to do with ETFs dominating a market and perhaps to a lesser extent the rise of direct-indexing and tax aware wealth management products. 53% of SP500 stocks are currently below their 200 DMA. That’s very significant for a market that is 1.48% off an all time high.

It is an interesting time to think about rotating to active value but maybe too early.

Honestly a lot of stocks act with a negative beta to indexes now. It’s almost two stock markets now. If we get an AI momentum crash/margin call again a lot of stocks that suck now will likely rally. It was only 2 months ago AI stocks sucked and equal weight SP was booming.

Yeah, anything that’s not speculative AI is getting blown up due to interest rates. Data centers are killing the old economy but just not in the way anyone thought.