Risk-asset stress: momentum unwind and oversold QQQ vs. record M2
High-beta momentum suffered a record 50% drawdown and QQQ is deeply oversold, even as US M2 hit a record and showed accelerating growth.
What we know
Goldman's High Beta Momentum Pair is down 50%, its worst on record. An account on X notes QQQ RSI near 25, the lowest since March 2026, near a 640 retest. M2 rose $113B to $23.41T, +5.7% YoY. US futures were mixed and another account on X called for SPX 6900.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.