Tech Stocks & and high multiples
Fib measured from Jan 18 high to Jan 19 low. Both fractals are pulled from the spx.
1. Jan 19 low - Feb 20 high.
2. Feb 16 low - Feb 18 high.
I believe that analyzing the spx from April 2021 and on cant really be looked at as legit price action as it was more or less noise caused from tech stocks trading at unbelievable multiples. If this seems crazy to you, piece the puzzle together. Go look at the top 3 weighted stocks in the spx index...
1. Jan 19 low - Feb 20 high.
2. Feb 16 low - Feb 18 high.
I believe that analyzing the spx from April 2021 and on cant really be looked at as legit price action as it was more or less noise caused from tech stocks trading at unbelievable multiples. If this seems crazy to you, piece the puzzle together. Go look at the top 3 weighted stocks in the spx index...
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