'Technical Tailwinds Are Coming To An End': Goldman Flows Guru Warns 'This Remains A Very Hard Tape'

Last week saw a clean sweep with SPX, NDX, and RTY all closing at generational highs, thanks in large part to a sizable macro product cover, some option expiry dynamics, and the current middle east ceasefire.

Goldman Sachs head of equity execution, Brian Garrett, notes that fundamental long/short funds just had their best 3 week run since COVID (+8.2% mtd) and are now up 7.1% on the year.