Flat Futures and Frayed Nerves – A Familiar December Setup – December 19, 2025

Good morning, Take a much better-than-expected year for equities—where most managed money has underperformed its benchmarks due to a lack of AI concentration—add a brief but sharp -4.8% pullback in mid-November, followed by a quick recovery, and then another -2.6% drop from last Friday through Wednesday, and you begin to understand why “nervousness” among investors […]