MARKET OVERVIEW: 📈 The NASDAQ Composite index seems to be in a buoyant mood, painting a rosy picture of the overall market. However, upon closer inspection, it becomes evident that this rally is highly concentrated and powered primarily by the FANG (Facebook, Amazon, Netflix, Google) stocks. In fact, the large market caps of these tech behemoths are heavily...
A look at the Nasdaq and compare that to the Stocks above 200 on the Nasdaq.
The chart shows the number of stocks above their 200 dma versus the Nasdaq Composite index and you could see the very negative divergence growing wider and wider. Big tech is hiding the extreme bearish market underneath the surface. This is coming to a point of a very fast sharp crash. If you look at the QQQ ETF you will notice that AAPL is over 11% of the QQQ...