The ratio of Nasdaq 100-to-Russell 2000 is now retesting the peak of the tech bubble levels.
This situation, similar to today, where smaller companies perform poorly compared to large-cap companies, was a critical precursor of the tech bust.
An important reminder:
It's not all… pic.twitter.com/HVPT5OSIXE
— Otavio (Tavi) Costa (@TaviCosta) May 30, 2023
The entire market is being held up by 10 stocks 😬 pic.twitter.com/czmtenJjoo
— Financelot (@FinanceLancelot) May 30, 2023
What I think about Nvidia is that the CEO is a puppet master when it comes to manipulating the Silly Con Valley hype cycle and the serial idiots who follow that garbage. pic.twitter.com/pFw0zPoqSt
— Mac10 (@SuburbanDrone) May 29, 2023
Trillion dollar US companies:
Apple $2.7 trillion
Microsoft $2.4 trillion
Google $1.5 trillion
Amazon $1.2 trillion
Nvidia $1.0 trillion
Former $1 trillion companies: Tesla, Meta
— Genevieve Roch-Decter, CFA (@GRDecter) May 30, 2023
Nearly 50% of $NDX components are below their 50 day moving averages a trend of ever lower highs versus new $NDX highs, an ever larger divergence that has continued to widen throughout the tech rally of 2023. pic.twitter.com/eddxycXIyt
— Sven Henrich (@NorthmanTrader) May 30, 2023
A wall of cash is about to hit the market this morning in a FOMO supernova deja vu of the 2018 tax cut.
The week it went into effect, the market exploded. pic.twitter.com/QHF0EPsLhs
— Mac10 (@SuburbanDrone) May 30, 2023
With all of that new money hitting 3 sigma overbought Tech stocks, this supernova won’t have long to live.
Consider that small caps are already weaker than they were at the lows of 2011.
With all of that new money hitting 3 sigma overbought Tech stocks, this supernova won't have long to live.
Consider that small caps are already weaker than they were at the lows of 2011. pic.twitter.com/SWp1ROVsSJ
— Mac10 (@SuburbanDrone) May 30, 2023