It seems that the dominance of heavy hitting Tech NQ companies vs. the general ES has come to a screeching halt in the last couple days, since TWTR and FB have mentioned that digital advertising is weakening given that many companies are gearing up to survival mode.
In the last two days of rally, the NQ has been substantially underperforming ES and even RTY, while a 'real' rally would see NQ blazing forward.
This is another data point that shows this looks like a massive short covering rally, but in my opinion it is masking a rebalancing of many investors' portfolios.
In the last two days of rally, the NQ has been substantially underperforming ES and even RTY, while a 'real' rally would see NQ blazing forward.
This is another data point that shows this looks like a massive short covering rally, but in my opinion it is masking a rebalancing of many investors' portfolios.