S&P 500 Peak and Global Market Rotation

Despite strong earnings, Nvidia's stock decline signals a potential market peak for the S&P 500 and Mega Cap 7. Macroeconomic factors like the yen carry trade unwind and high CAPE ratio suggest a significant correction is likely. Opportunities are emerging in commodities, gold miners, energy, industrials, and undervalued international markets, advocating for a shift from U.S. equity-heavy portfolios to capture gains in an inflationary environment.