The Nasdaq 100 continues to notch record high after record high. Many of its stocks are not only lagging, but they're falling to monthly, quarterly, or even yearly lows and below their 10-, 50-, and 200-day moving averages.
This is not normal. In fact, it's never happened before… pic.twitter.com/gopsw8WUJn
— SentimenTrader (@sentimentrader) June 17, 2024
Here's the story:
Imminent Tech Sector (XLK) ETF rebalance just drove a call option driven arms race between Apple and Nvidia. The "winner" is accorded a ~20% weight in the fund, and the "loser" will be accorded a meager ~5% weight in the fund. Apple already has a 22% weight, so… pic.twitter.com/0yVs4VWspq— Mac10 (@SuburbanDrone) June 16, 2024
Should we worry? pic.twitter.com/cLeiVu7P6V
— Guilherme Tavares (@i3_invest) June 17, 2024