By Mark Wilson, Goldman Sachs MD and partner
Despite a violent reversal in "Momentum" last week (our Hi Beta Momentum pair down -6.4% on Tuesday, the largest down day since DeepSeek, a top 10 down day of the last 5 years, and giving up a third of ytd gains), S&P500 and NDX printed new all-time highs - quite a feat given all that's been thrown at the market in Q2 :
