Well, the Nasdaq closed red in Monday’s holiday-shortened session, trailing the S&P which was green and also the Dow, which hit at a record, much to the delight of Donald Trump…
The divergent fortunes of the Nasdaq and the S&P/Dow marks a reversal of the YTD trend, which has seen tech stocks outperform notably.
The weakness we saw in the Nasdaq 100 during June has some observers worried given that a handful of techy names have been responsible for a disproportionate share of benchmark gains.
In a Friday post documenting tech’s recent trials and tribulations, we showed you two charts that illustrated the growing disconnect between Nasdaq implied vol. and S&P implied vol.
That discrepancy grew more pronounced on Monday and because we firmly believe this is going to be a hot-button issue going forward, we thought it was worth showing you the updated visual. Have a look:
So yeah, that’s the widest disparity going back to 2002.Subscribe to NFTRH Premium for your 50-70 page weekly report (don't worry, lots of graphical content!), interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH, StockTwits, RSS or sign up to receive posts directly by email (right sidebar).