This is a ratio of the OEX to the SPY. Which is a ratio of the market cap of S&P 100 vs. the S&P 500.
It is interesting to note that during previous bubbles, such as 2000 tech bubble and 2007 housing bubble, there was a considerable increase in the ratio of the S&P 100 to the S&P 500.
At the moment, many are ringing the alarm bells on the 2021 bubble. However,...
I use the "OEX" CBOE S+P 100
as an overall market confirming Trend Index
Comprised of the 100 largest capitalization companies on the NYSE and Nasdaq,
the OEX is a "proxy, and broad range"for United States cooperate performance.
This past week...
the OEX broke out to an historic all time high closing at 1547.90,
clearing the Feb 2020 top, prior to the onset...
THE WAVE STRUCTURE IS ENDING THE CORRECTION NOW WAVE C DOWN IN SP 100 IS 5 WAVE DOWN FOR WAVE C of B down i see a 5 wave rally in wave C UP TO PEAK IN WAVE B WITHIN 11 TRADING DAYS AT 1277 TO 1281 . BEST OF TRADES