Nasdaq is more than 3 times the size of S&P500! Nasdaq100/S&P500>3.
This is an extreme situation because the last time when this ration was bigger than 3 it was in the dotcom bubble in the year 2000! So the Nasdaq is absolutely overvalued.
The technical picture is that an expanding rising wedge has been built up and a classic throw over occur at the moment. So I can imagine that Nasdaq will not be able to rise above 11000 and the rising trend from 6600 will be broken in the next weeks. Strong support there is between 9700 - 10000 and if rising corrections will come then further decline is inevitable.
All love is once the end of sobriety. Love your Tesla, your iPhone, Netflix but not the shares!
This is an extreme situation because the last time when this ration was bigger than 3 it was in the dotcom bubble in the year 2000! So the Nasdaq is absolutely overvalued.
The technical picture is that an expanding rising wedge has been built up and a classic throw over occur at the moment. So I can imagine that Nasdaq will not be able to rise above 11000 and the rising trend from 6600 will be broken in the next weeks. Strong support there is between 9700 - 10000 and if rising corrections will come then further decline is inevitable.
All love is once the end of sobriety. Love your Tesla, your iPhone, Netflix but not the shares!