Really interesting chart here from @hertcapital suggesting that Mega Cap Tech, which has been carrying this market for years, is overbought and showing negative divergence $QQQ $SPY $DIA
$NDXE $NDX $QQQ $QQEW NDX / NDXE ratio now trading at a notable deviation from the mean. Higher than the ratio peaks in 2012 and 2018. Also, note the negative momentum divergence at the most recent high. Indicates weakness ahead for the mega-tech stocks.
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