Trader Ansem: The stock market macro cycle may be nearing its end.

Trader Ansem said the macro cycle for equities may be nearing its end, noting that many of the stocks that have led gains since late 2022 have accumulated massive returns and that markets are now seeing clear profit-taking after years without a major correction. He argued that crypto weakened earlier, which may explain why it bottomed ahead of equities and rebounded strongly in the third quarter. Ansem said he is assessing whether that rebound marks the start of a new bull market or a countertrend bounce within a larger downtrend, warning that if it is the latter, many could be caught off guard. The comments matter as a signal that momentum in risk assets may be fading, with crypto's earlier weakness and Q3 rebound framed as a leading indicator for equities.