"Sharp Momentum rallies that have occurred with the S&P 500 at or near a high have generally preceded weaker subsequent equity market returns. These episodes included mid-1998, late 1999, and late 2021." - Ben Snider, Goldman Sachs

...creating attractive entry-points to short.

Goldman Sachs warns that AI-driven momentum in the S&P 500 may fade, risking softer returns amid changing macroeconomic conditions.

...when big momentum rallies coincide with the broader market making higher highs, there is a pattern of weaker S&P returns...

"Sharp Momentum rallies that have occurred with the S&P 500 at or near a high have generally preceded weaker subsequent equity market returns. These episodes included mid-1998,…

Don't be fooled by Goldman Sachs.