Crunchtime for the AI Trade
The tape is sending two messages at once today, and the gap between them is the whole story.
On one side, the structure is at new all-time highs. The Rubin Build-Out 100 printed fresh records across the board — the momentum-weighted line (CL-RUBIN-MW) at 2,365 (+137% since inception), the cap-weighted line (CL-RUBIN-CW) at 1,866.
