Time for the Melt-Up / Crash Crowd

Maybe time to take a stroll.

Since June 2022 when this Bull Market started we have seen a 5X rally in the Bitcoin/NVDA Index and 31 % rally in the Combined Market Index (SPX+NDQ+RUT). It has been a good run that has now hit Fundamental/Technical full valuation levels. Runs like this usually have two steps, first the fundamental base and second the momentum phase.

Lately, appropriately as now is their time, we have been hearing from the melt-up / crash crowd.

Here is the first of the two charts: The Bitcoin / NVDA Index that has run up from 140 to a high of 717 this week, at the moment 692.

And the second chart, what we call the Market Exit Index (combination of SPX/NDQ/RUT), a level of 100.0 on March 8 was the exit point, it hit a high of 101.12 today and is now at 100.95. Back in June 2022 it was at 69.91.