PremiumAs last week was rolling along, with the AI narrative completely dominating the market’s attention span, one could be excused for wondering if the entire rally was predicated on one theme.Right on cue, Goldman Sachs US Portfolio Strategy team produced a note that takes this question head on (Pro subs can read the full 'AI, Momentum, and the One Big Trade' here).
Goldman's Pasquariello Sees "Cause For Some Momentum Sobriety"
...when big momentum rallies coincide with the broader market making higher highs, there is a pattern of weaker S&P returns...








