Retail investors’ buying streak has been historic: Retail traders have now been net buyers of US equities in 16 of the last 18 weeks. Tesla, TSLA, Nvidia, NVDA, and UnitedHealth, UNH, were the top picks on a 5-day rolling basis of net order flows. Retail has also been a net buyer of equity options for 16 consecutive weeks, the longest streak in 2 years. This marks the 6th longest bullish stretch since 2020, nearly matching the 2020-2021 meme stock frenzy. Historically, after strong June and July buying, retail activity has slowed in August and September, per Citadel data back to 2017. Retail investors remain a key force in the market.(The Kobeissi Letter)