massive divergence on the RSI - monthly chart. It's difficult to look past that. The last divergence I saw like this was on the S&P500 mid feb.
I wouldn't be surprised if we have a ATH, below 10 000 which will be a very difficult psychological resistance to breach.
From macro perspective, it make sense that the nasdaq which is is heavy tech stock index is lagging in time / performing better than the S&P500.
Companies usually prefer to hire more at the end of an economical cycle ( so the past months before COVID started) and in turns this drive tech investments (licences etc) instead of physical investments as it is easier to lay off a worker than to sell machinery or so.
Now that so many people are being laid off (+ the ones to come e.g. in the airline industry as companies said they will massively get rid of people on oct. 1st.) we'll need see how it plays out...
I wouldn't be surprised if we have a ATH, below 10 000 which will be a very difficult psychological resistance to breach.
From macro perspective, it make sense that the nasdaq which is is heavy tech stock index is lagging in time / performing better than the S&P500.
Companies usually prefer to hire more at the end of an economical cycle ( so the past months before COVID started) and in turns this drive tech investments (licences etc) instead of physical investments as it is easier to lay off a worker than to sell machinery or so.
Now that so many people are being laid off (+ the ones to come e.g. in the airline industry as companies said they will massively get rid of people on oct. 1st.) we'll need see how it plays out...