As we have noted multiple times this year, the same trend can be seen in the Nasdaq.
70% of the index's YTD performance is from just 10 stocks.
Perhaps this is just the new normal as tech giants become bigger.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) October 16, 2023
CHARLES SCHWAB BANK DEPOSITS OVER THE LAST 18 MONTHS $SCHW
Q1 2022 -> $452.6 BILLION
Q2 2022 -> $449.9 BILLION
Q3 2022 -> $420.1 BILLION
Q4 2022 -> $378.8 BILLIONQ1 2023 -> $343.1 BILLION
Q2 2023 -> $312.5 BILLION
Q3 2023 -> $290.8 BILLIONDO YOU NOTICE A TREND ?? t.co/UI2fGRa8lL
— GURGAVIN (@gurgavin) October 16, 2023
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