Technology's Moment of Truth π The Chart Report
Chart of the Day
π Today's Chart of the Day was shared by Chris Kimble.
The Nasdaq Composite (IXIC) relative to the S&P 500 Index (SPX) is once again testing its dot-com bubble highs.
The ratio first ran into this resistance level in early 2021, and peaked months before the broader market reached its cycle high, highlighting its importance as a leadership gauge.
While technology has already led on a strong basis in recent years, a decisive breakout above these multi-decade highs would suggest tech leadership to persist well into the future.
The Takeaway: A secular breakout in the Nasdaq versus the S&P 500 would point to continued Tech leadership ahead.
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