\~8 wks: Anthropic IPO ($21B val, $80B+ ask). Q4: OpenAI +$60B.
$120B new paper on most stretched mkt in a generation.
IPOs don’t create $ — redirect it. Funds sell $SPX to buy new names.
SpaceX: $75B drain, +19% d1, crawled back.
Anthropic lists into euphoria top.
1st flush → retail buys dip → real leg down.
Target $SPX 6300 mid. 4800 if drain to ’27.
2021 CAPE 39 → 2022 worst since ’08. CAPE now 42.
You’re early or the exit.
#SPX #AnthropicIPO #MarketTop #CAPE
$120B new paper on most stretched mkt in a generation.
IPOs don’t create $ — redirect it. Funds sell $SPX to buy new names.
SpaceX: $75B drain, +19% d1, crawled back.
Anthropic lists into euphoria top.
1st flush → retail buys dip → real leg down.
Target $SPX 6300 mid. 4800 if drain to ’27.
2021 CAPE 39 → 2022 worst since ’08. CAPE now 42.
You’re early or the exit.
#SPX #AnthropicIPO #MarketTop #CAPE