Why, it was the NDX/SPX ratio, AKA the market leader holding its leadership trend.
Just a week ago the mainstream financial media were urging caution on Tech and offering ideas for debt addled value type stocks. But the ratio did not even test its rising 50 day average before tacking on 2% today. Leadership is intact and was intact last week as noted when the ratio took a hit.
Put another way, the SPX under performance is firmly intact and those who took the media’s allocation advise (ha ha ha) may be getting a little hot under the collar. One of the reasons I find this to be a very satisfying market is that it’s no longer as easy as buying the SPY and passively out performing. And for the Dow it’s even worse.
An end of summer 2020 price increase is coming. Subscribe to the value-priced NFTRH now to lock in the current rate for the life of your subscription! Current subscribers will never see an increase and have never seen increases since the service began in 2008.
NFTRH Premium (monthly at USD $35.00 or a discounted yearly at USD $365.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas. You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter @NFTRHgt.
