Things That Make You Go HIMS

While it is still technically spring outside and on the calendar, stocks are already operating as though we are fully into the summer doldrums with a daily drift higher seemingly outweighing any and all bearish headlines or potential volatility events. However, as we have been noting the setup remains in play for June to wind up being the seasonally bearish month it often is, coupled with retail buying euphoria reaching impressive levels of arrogance and hubris which compels me to look at the contrarian case. 

From my perch the most intriguing long setups continue to be in commodities--Just now how well platinum is trying to take the lead today, using PLG as a proxy. After multi-year/decades periods of underperformance in the stock market's equivalent of a Siberian gulag. 

That said, bears in equities still must unwind the vicious upside momentum in darlings like HIMS HOOD and PLTR. In recent days I have personally noticed non-Wall Street types harping on Palantir as far as personal liberties are cornered. Even with those concerns those same people basically admitted they bought or are looking to buy shares in PLTR which, again, has me looking for the contrarian bearish case. 

Similarly, Hims & Hers Health, below on the updated daily chart, has been rejected at the key $63 level quite a bit in recent sessions, with a harsh downside reversal yesterday and another fade so far today. Things that make you go HIMS, indeed.