QuiCQ 08/08/2024
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“Beauty of style and harmony and grace and good rhythm depend on simplicity.”
— Plato
Today’s chart looks at the relative performance of technology stocks (SPDR Select Technology ETF - XLK) to the broader stock market (SPDR Select S&P 500 ETF - SPY).
We note that the relative outperformance of tech stocks versus the overall market ended quite precisely where it did over two decades ago at the end of the tech bubble.
Should we start underweighting tech stocks now? Valuations would definitely be supportive of such a conclusion.
Can it really be that easy?
