Caleb Franzen: Bearish sentiment contrasts with record highs for second largest company

Caleb Franzen: Bearish sentiment contrasts with record highs for second largest company
Bearish mood meets record company highs

Caleb Franzen described a disconnect between prevailing bearish sentiment and the performance of the world's second largest company, which has reached new all-time highs while the average stock is rising quickly.

Franzen previously highlighted Opendoor's decline, noting the stock is down 87.8 percent since its IPO even as major indexes advanced (see article). In another note, he observed a bearish engulfing pattern in the S&P 500, with tech and growth shares underperforming their cap-weighted counterparts (see article). These observations come as he tracks divergence across equities.

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