Macro & Flows by Orestes Capital

Markets can look remarkably healthy right up until the underlying structure begins to matter. In this episode of Macro & Flows , we examine how market plumbing, liquidity, positioning, and mechanical flows can keep...

A 2% market decline sounds ordinary. In today’s highly leveraged financial system, however, it can be enough to trigger a chain reaction. In this episode of Macro & Flows , we examine the hidden market mechanics that...

Markets can be structurally bullish and tactically vulnerable at the same time—and that tension is becoming increasingly difficult to ignore. In this episode of Macro & Flows , we examine the widening gap between...

The S&P 500 may look stronger than ever—but beneath the headline index, a powerful mathematical feedback loop is quietly increasing the market’s vulnerability. In this episode of Macro & Flows , we examine how...

Markets are celebrating—but beneath the surface, the foundation may be getting thinner. In this episode of Macro & Flows , we examine the growing disconnect between investor euphoria and an increasingly fragile...

The S&P 500 finished July looking almost motionless, but beneath the index, markets experienced a violent collision of systematic deleveraging, retail capitulation, dealer hedging, and leveraged-ETF selling. Microsoft...

Strong growth should be good for markets—so why are stocks trading like the economy is breaking? In this episode of Macro & Flows , we unpack how algorithmic trading, systematic positioning, and rapidly shifting market...

A critical market level is hiding in plain sight—and if it breaks, the selloff could accelerate fast. In this episode of Macro & Flows , we unpack the 7,549 gamma trapdoor , explain why dealer positioning can turn an...

Smart money is selling. Retail is still buying. And the semiconductor trade may be flashing one of its clearest warning signs yet. In this episode of Macro & Flows , we break down the growing disconnect inside the AI...

Tech didn’t just sell off — the market machine started working against it. In this episode of Macro & Flows , we break down the hidden mechanics behind the tech unwind: positioning, flows, systematic pressure, and the...

Markets are sitting near record highs — but beneath the surface, the growth pulse is starting to fade. In this episode of Macros & Flows , we break down the disconnect investors cannot afford to ignore: risk assets are...

<p>The market looks calm — but beneath the surface, one move could change everything.</p><p>In this episode of Macros & Flows, we break down the “1% systematic sell trigger” and why a seemingly small decline in equities...

The market looks calm — but beneath the surface, one move could change everything. In this episode of Macros & Flows , we break down the “1% systematic sell trigger” and why a seemingly small decline in equities could...

Markets are still trading with a sense of euphoria — but the growth data is starting to tell a very different story. In this episode of Macros & Flows , we breaks down the collision between resilient risk appetite and a...

<p>Markets are still trading with a sense of euphoria — but the growth data is starting to tell a very different story.</p><p>In this episode of Macros & Flows, we breaks down the collision between resilient risk...