How Big is the Tech Bubble?

A ratio chart divides the value of the Nasdaq 100 by the value of (S&P 500+Dow 30+Russell 2000). The large spike in the blue line to the left illustrates how the NQ became so overvalued in relation to the S&P, the Dow, and the Russell.

If the ratio pulls back, I would say it may find its balance around the lower red line, after retracing the recent parabolic spike like it did in 2000.

I think it will keep going higher. I think the high prices of tech stocks are more legitimate this time around.

I believe I just made a "this time is different" type of comment lol.

Thoughts?