Tech-Heavy Nasdaq on the Verge of Collapse Relative to Dow
The Nasdaq 100 is a better concentration of tech companies and has been one of the driving forces of speculative appetite over the past five years - and particularly in the period post pandemic. Yet, that outperformance seems on the verge of capsizing when looking at the NDX relative to the Dow (the value index). This wouldn't necessarily suggest a full scale risk aversion for me, but it is movement much higher up the mountain. Talked about this in my video yesterday: dailyfx.com/forex/video/daily_news_report/2021/05/11/EURUSD-GBPUSD-and-Nasdaq-Outlook-Key-Levels-and-Events-Ahead.html
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