Today’s Chart of the Day was shared on Twitter by Steve Strazza (@sstrazza). It's a ratio chart of the Nasdaq 100 vs. Long Term Treasury Bonds over the past few ($QQQ/$TLT). When the ratio is rising, as it has been, it means the Nasdaq is outperforming Bonds. Steve points out that this is a logical place for Stocks to reassert their leadership relative to Bonds. In a comment to The Chart Report, Steve told us, "This ratio has already broken out of a multi-year base, and it's currently retesting the breakout level around 1.60. As long as the ratio holds up above that level, you want to be overweight Stocks and underweight Bonds."
Chart of the Day - Tuesday, September 29th, 2020
September 29, 2020
