Goldman's equity derivatives guru Shawn Tuteja writes in a note published earlier on Thursday, that the chart of Goldman's GSPUARTI basket "is probably the most important chart in the equity markets for right now."

Some background: GSPUARTI is the pair (market-neutral) of long AI beneficiaries (GSTMTAIP) vs short AI at-risk names (GSTMTAIR). The market-neutral pair has rallied 33% in the past 2 months on only a 14-vol(!). The current RSI is 87, which hasn't been seen since early 2023 when the AI trade first emerged in equity markets.