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Open original source ↗https://t.co/kGQLp44ka9
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One of the most important charts in US equities right now. Semiconductor volatility continues to outperform index volatility, while dispersion rises and implied correlation falls. The market is paying up for single-name risk, not systemic risk. That's typically what leadership rotation and earnings differentiation look like... and right on cue for earning season!
TraderBillyAU ↗