There It Is Again – Momentum Pairs Trade Viscously Unwound, Mega Caps Feeling It

This market is getting crazier and crazier. The underlying cross-currents are absolutely insane. Value (+0.2%) is outperforming Growth (-1.4%) by a wide margin, but not Value isn’t carrying the major averages. Momentum (-1.25%) is taking a big hit and that was right out of the gate. The huge GS pairs trade I talked about in…