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Callum Thomas @topdowncharts.bsky.social · 08/07/2026

Quarterly Strategy Pack - Q3 2026 -Macro Outlook -Asset Allocation views -Specific ideas and issues Get the pack + join the webinar: www.topdowncharts.pro/p/quarterly-...

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Callum Thomas @topdowncharts.bsky.social · 05/07/2026

Weekly S&P500 ChartStorm www.chartstorm.info/p/weekly-s-a... This week: bull market broadening, lag 7, equal-weighted vs cap-weighted, value vs growth, financials, micro caps, bubble watch (AI stocks), REITs

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Callum Thomas @topdowncharts.bsky.social · 04/07/2026

Chart of the Week - Big Moves in Small Caps Plenty of room to run, here's why: www.chartstorm.info/p/chart-of-t...

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Callum Thomas @topdowncharts.bsky.social · 30/06/2026

$0.50 of every $1 in Sector ETFs is in Tech Sector Funds (should be fine...)

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Callum Thomas @topdowncharts.bsky.social · 30/06/2026

For those wishing for Rate Cuts... If the Fed cuts unnecessarily then stocks go up, but if they cut because things are unravelling in the economy then it won't help stocks at all. (also notice how the market tends to trade into the first cut)

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Callum Thomas @topdowncharts.bsky.social · 30/06/2026

This chart tells you all you need to know about investing in Stocks vs Bonds. Observations: Bonds & stocks go up together most of the time. Stocks beat bonds most of the time. (but bonds beat stocks most of the time when stocks go down) from The Weekly #ChartStorm

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Callum Thomas @topdowncharts.bsky.social · 30/06/2026

The AI boom (/bubble?) has triggered a surge in earnings expectations unlike anything we've ever seen before. This has helped EM equities outperform vs US and developed, but it's also starting to look a little too good to be true. And it's not the only interesting thing going on in earnings...

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Callum Thomas @topdowncharts.bsky.social · 30/06/2026

Is this a test of financial literacy? ...or is it a matter of volatility? (or is it simply that most people hold real estate for the long-term by default, and hence get to actually see the benefits without getting spooked out by news headlines and daily market volatility)

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Callum Thomas @topdowncharts.bsky.social · 30/06/2026

In 2022 the Stockmarket put in a Major Top -and- a Major Bottom Here's two #ChartStorm case studies documenting the clues/signs of the Top & Bottom Top: www.chartstorm.info/p/weekly-cha... Trough: www.chartstorm.info/p/weekly-cha...

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Callum Thomas @topdowncharts.bsky.social · 29/06/2026

Adjusted for market movements, margin debt is still expanding at a rapid pace. Yes this is a warning sign. As detailed here: www.chartstorm.info/p/chart-of-t...

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Callum Thomas @topdowncharts.bsky.social · 29/06/2026

Weekly Report Highlights + Chart in Focus This week: global equities, small caps, TAA review, and a stunning chart on global equity "fundamentals" --read it here: www.topdowncharts.pro/p/weekly-rep...

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Callum Thomas @topdowncharts.bsky.social · 29/06/2026

What is more important in this chart? -the gap between them -the record highs in each -them both going up together (as seen in The Weekly ChartStorm)

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Callum Thomas @topdowncharts.bsky.social · 29/06/2026

We've become accustomed to markets just trending and going up over time, but there are plenty of examples across history and geographies of markets that just range. This 25-year period of time in Japan was one for market timers and not long-term trend followers. (...albeit there are clear trends o

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Callum Thomas @topdowncharts.bsky.social · 29/06/2026

If you missed the 10 Worst days in the market, your returns would be materially better than the index. So, should we therefore attempt to time the market? Most finfluencers only tell you about the red line, so what is the intellectually honest approach here?? from The Weekly ChartStorm

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Callum Thomas @topdowncharts.bsky.social · 29/06/2026

Most people talk about Stock prices when they talk about Seasonality, but Volatility and Credit Spreads also follow seasonal patterns... Off-Topic #ChartStorm on Seasonality: www.chartstorm.info/p/off-topic-...

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Callum Thomas @topdowncharts.bsky.social · 28/06/2026

The cycle is dead. (long live the cycle)

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Callum Thomas @topdowncharts.bsky.social · 28/06/2026

Just as mag-7 turns to lag-7 and various cracks are appearing in the bull case, investors are about as levered up as they can get... (what could go wrong)

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Callum Thomas @topdowncharts.bsky.social · 28/06/2026

Another week, another new all-time high in long-term average expected earnings growth... Have Wall Street analysts lost the plot or are we really heading into a period of earnings hyperinflation?

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Callum Thomas @topdowncharts.bsky.social · 28/06/2026

On the other side of the AI boom we will probably see the blue line go down and the black line go up... (few understand or expect this)

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Callum Thomas @topdowncharts.bsky.social · 28/06/2026

Weekly S&P500 ChartStorm www.chartstorm.info/p/weekly-s-a... This week: the "lag-7", valuations, earnings euphoria, sector sizes, tech sector, foreign flows, market regimes, small caps...

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Callum Thomas @topdowncharts.bsky.social · 28/06/2026

Tech Sector capex is crowding out Commodity capex 🧐 🤔 There's one small problem with this...

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Callum Thomas @topdowncharts.bsky.social · 28/06/2026

Here's one of the things I love most about writing The Weekly #ChartStorm -- subscribers love it. Here's what else they have to say about it: www.chartstorm.info/p/reviews

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Callum Thomas @topdowncharts.bsky.social · 27/06/2026

Weekly ChartStorm coming soon! In the meantime be sure to check out last week's edition (unlocked for your review) + subscribe to get the best curated charts straight to your inbox each week: www.chartstorm.info/p/weekly-s-a...

chartstorm.info

Weekly S&P500 ChartStorm - 21 June 2026

This week: MAG7 vs the S&P 493, equal vs cap weight rotation, valuations and profitability, cash allocations, margin debt, seasonality, industrials, and why treasuries...

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Callum Thomas @topdowncharts.bsky.social · 27/06/2026

Funny thing on this chart, Perspective matters... if you hold something that falls -50% it has to rise 100% to get you back to where it started. if something you don't hold falls -50% it will gain 100% if it just gets back to where it started. (there's a lesson in there)

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Callum Thomas @topdowncharts.bsky.social · 27/06/2026

Margin Debt Acceleration 👀 Yes, it is a valid and reliable warning indicator...

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Callum Thomas @topdowncharts.bsky.social · 27/06/2026

Space Stocks have crashed -50% since the 28th May peak. The past couple years this type of move was a buying opportunity... (𝘵𝘩𝘦 𝘶𝘴𝘶𝘢𝘭 𝘤𝘢𝘷𝘦𝘢𝘵𝘴 𝘰𝘯 𝘬𝘯𝘪𝘧𝘦-𝘤𝘢𝘵𝘤𝘩𝘪𝘯𝘨 𝘢𝘱𝘱𝘭𝘺)

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Callum Thomas @topdowncharts.bsky.social · 27/06/2026

on Consistent Fast Growth 🧐 in 2018 there were 1055 companies who reported sales growth of 10% or more… by 2023 only 35 of them were able to consistently grow sales by at least 10% year-after-year across that 6-year period. In other words, it’s easy to grow fast once, hard to grow fast consisten

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Callum Thomas @topdowncharts.bsky.social · 27/06/2026

Inflation-adjusted 10-year rolling total returns are at cycle Highs for stocks, and cycle Lows for bonds. Due for a reversal? more in The Weekly #ChartStorm

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Callum Thomas @topdowncharts.bsky.social · 27/06/2026

The Weekly #ChartStorm >> when did it start >> what's the point >> who's behind it +More: www.chartstorm.info/p/getting-st...

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Callum Thomas @topdowncharts.bsky.social · 26/06/2026

Globalization of the US Stockmarket ...if you think about it, more and more offshore investors buying into US listed companies just as US listed companies are making more and more of their money from offshore. 🤔

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Callum Thomas @topdowncharts.bsky.social · 26/06/2026

Market Cap Weights -Mega Caps are bigger than usual -Large Caps are at a record low -SMID are smaller than usual We've seen huge shifts in cap weights across size cohorts --majorly distorted market, big moves like this rarely last long and are often the sign of a boom/bubble ready for bust.

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Callum Thomas @topdowncharts.bsky.social · 26/06/2026

Bond yields have been caught in a macro stalemate of resurgence risk vs recession risk. This tight trading range has helped volatility relax back to the lows... But remember: neither high nor low volatility lasts long in markets --and when treasury yields do finally break out of the range volatili

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Callum Thomas @topdowncharts.bsky.social · 26/06/2026

Cause or Effect? (also, the real question: can those other countries ever rise to match the same as the USA? ---because that could be huge for their stockmarkets...)

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Callum Thomas @topdowncharts.bsky.social · 26/06/2026

After all manner of twists and turns over the decades and centuries, US interest rates are sitting about right in line with *long* term average... Makes you think 🧐 🤔

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Callum Thomas @topdowncharts.bsky.social · 26/06/2026

Best of the Weekly #ChartStorm from 2023 www.chartstorm.info/p/weekly-s-a... (retail rise, big drawdowns, yield shifts, recession trading, long-term survival, and something odd in the data)

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

Biggest Winners’ Greatest Losses The most interesting aspect of this table is how massive the drawdowns (periods where the stock price declined from its peak) are for some of the best stocks… Not only do you have to pick the right stock, but you have to be able to hold-on and navigate through som

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

Each week we send the Chart Of The Week report out to free subscribers of The Weekly ChartStorm. It's a good way to get a sampler of what we're working on + some really great timely markets and investing insights. Check it out: www.chartstorm.info/s/chart-of-t...

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

Global Equities are pricing a much higher PMI as global growth reaccelerates. Are boom times ahead? (or does the red line catch-down)

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

Recessions hurt Stocks and help Bonds. While there is some debate around the diversification benefits of bonds (usually based on wrong assumptions and poor logic), the next deflationary downturn will probably look very similar to the right side of this chart.

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

US REITs have been stuck in a long-term range-trade... but something is brewing here.

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

Most people know about the Stockmarket cycle, but you also ought to know about the cycles in Credit Spreads and credit markets. They likewise reflect the varying stages of the business/financial cycle, and likewise present major risks and opportunities for astute investors...

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

Weekly Macro Themes Report: -policy pulse -treasuries -REITs -Bitcoin -energy stocks Get the report here: www.topdowncharts.pro/p/weekly-mac...

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Callum Thomas @topdowncharts.bsky.social · 25/06/2026

The Weekly #ChartStorm publication I write is usually focused on what's happening, what's about to happen, and where things are headed... But I also like to feature longer-term charts and things to make you have a hmm Here's a few timeless classics: www.chartstorm.info/p/weekly-s-a...

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Callum Thomas @topdowncharts.bsky.social · 24/06/2026

Stocks are an Anticipatory Asset. Investors buy and sell based on their anticipation of where things are headed. Do this at scale and you have a prediction machine (albeit one liable to the normal human foibles)

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Callum Thomas @topdowncharts.bsky.social · 24/06/2026

US Stockmarket Valuations -Mega Caps= Very Expensive -Large Caps = Expensive -SMID Caps = Cheap 👀 🧐 🤔 from The Weekly #ChartStorm

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Callum Thomas @topdowncharts.bsky.social · 24/06/2026

Chart of the Week - Margin Debt Alert Simple but clear warning indicator flashing right now, explained: www.chartstorm.info/p/chart-of-t...

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Callum Thomas @topdowncharts.bsky.social · 24/06/2026

Sentiment has snapped back from the Q1 "healthy correction" Healthy corrections scoop some of the froth off the top, shake-out weak hands, and most importantly; don't damage the trend. (but it does make you wonder how long we can keep extending this bull market...)

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Callum Thomas @topdowncharts.bsky.social · 24/06/2026

The Bubble. Bubbles are a constant through history because humans are a constant through history. We will have more bubbles in the future and people will probably behave more or less the same way every time. We can of course as individuals at least try to learn from history…

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Callum Thomas @topdowncharts.bsky.social · 24/06/2026

Here's how the market cycle *really* works... It's not as simple as buy low and sell high There are internal pressures, institutional constraints, inner turmoil, and trips & tricks around the turning points that make it messier than you expect. from the Weekly #ChartStorm

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