🚨 OUR PARTNERS AT @Vetta_Fi's Director of Research @MurphyCinthia ON WHAT THE CHARTS ARE SAYING ABOUT THIS MARKET: "Fundamentally the market is strong, which is why it continues to surprise. Q2 earnings have been spectacular, pretty much every sector, across the Mag Seven and the 493." On the technical picture: "If you look at a 12-month moving average and monthly closes on the S&P 500, it's been a buy and invest signal for 16 consecutive months. The strength is there from a technical perspective." The risk she is watching: "The level of margin debt investors have right now. We've seen that leverage explode. Year to date we're 34% to 35% higher in margin debt year over year. If there is any kind of unwinding, any kind of panic, if there are any margin calls, we're gonna see that unwinding come quickly and volatility will pick up quickly." "We're just trying to balance the fundamental picture, the technical picture, and seeing where investors are putting money to work."