"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.