Big-Tech Bid, Small-Caps Skid As Gold Hits 9 Year Highs

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On the week, Nasdaq has soared higher once again, notably divergent from the rest of the markets with Small Caps actually down on the week…

Which has sent the ratio of Megacap-Tech to Small Caps back near a record high…

Source: Bloomberg

Nasdaq is up 8 of the last 9 days and 17 of the last 20 days – this is easy!!!

Interestingly, today saw the week’s performances flip with Small Caps surging as Nasdaq slipped. Markets were sold at the cash open then immediately ramped higher…

Spot the odd market out (Chinese stock speculation re-erupted this week)…

Source: Bloomberg

Median US stocks continue to diverge significantly from the handful of megatech stocks driving the Nasdaq ever higher…

Source: Bloomberg

Notably Defensives and Cyclicals have rallied tick for

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