The wild divergence within NAS100, who will play catch-up?
Ever since Q4 2021, and most notably over the last several weeks, a gap has been exponentially growing between some of NAS100's pandemic high-flyers.
The below chart reflects the current big 6 (Apple+Microsoft+Amazon+Google+Tesla+NVIDIA) who weigh over 45% of the entire index. They currently trade 14.3% below their ATH's which is an improvement from the 23+ percent decline by January 24.
This chart here reflects some of the most popular during the last 2 years, particularly ones that have been badly punished recently and they include (Facebook+Neflix+PayPal+Moderna+Zoom+Baidu). They obviously carry nowhere near the same weight but can be considered a good gauge for market sentiment. The only big difference here is that they cumulatively trade 45.8% lower than their ATH's with no recovery in-sight just yet. There are others that show the same patterns such as DocuSign, MercadoLibre, Lucid, etc.
The big question I'm asking now, and one that I'm happy to hear your answers for, is who do you think will play catch-up over the next few months? Will the mega-cap with strong fundamentals and guidance continue to uplift the index on their own or will they start retreating further alongside the others? Will the combo of over beaten-down stocks start to find their foot soon and add further breadth to a wider index rally or will they continue to fall to pre-pandemic levels and beyond whilst hitting the breaks on any chance of broader tech-weighted market recovery?
The below chart reflects the current big 6 (Apple+Microsoft+Amazon+Google+Tesla+NVIDIA) who weigh over 45% of the entire index. They currently trade 14.3% below their ATH's which is an improvement from the 23+ percent decline by January 24.
This chart here reflects some of the most popular during the last 2 years, particularly ones that have been badly punished recently and they include (Facebook+Neflix+PayPal+Moderna+Zoom+Baidu). They obviously carry nowhere near the same weight but can be considered a good gauge for market sentiment. The only big difference here is that they cumulatively trade 45.8% lower than their ATH's with no recovery in-sight just yet. There are others that show the same patterns such as DocuSign, MercadoLibre, Lucid, etc.
The big question I'm asking now, and one that I'm happy to hear your answers for, is who do you think will play catch-up over the next few months? Will the mega-cap with strong fundamentals and guidance continue to uplift the index on their own or will they start retreating further alongside the others? Will the combo of over beaten-down stocks start to find their foot soon and add further breadth to a wider index rally or will they continue to fall to pre-pandemic levels and beyond whilst hitting the breaks on any chance of broader tech-weighted market recovery?
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