QuiCQ 19/06/2024
One-Handed Economists
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"Give me a one-handed Economist. All my economists say 'on ONE hand...', then 'but on the other...”
-- Harry Truman
In yesterday’s QuiCQ (click here) we discussed how differently various market segments (e.g. large, small- &mid cap, momentum, value) have performed so far this year. Also, in Monday’s Quotedian (click here) we observed, amongst other things, how the participation in the equity rally has been thinning. BUT, here’s another, more bullish take: The Nasdaq (QQQ) is up approximately 18% year-to-date, whilst the Nasdaq equal-weight (QQQE) shown below is up less than six percent. However, we can interpret this chart below as after a nearly three year sideways movement, the QQQE is about to break above resistance, with potentially very bullish implications as it would indicated widening participation. And all this, whilst the CNN Greed and Fear indicator is still in FEAR territory. Stay tuned …
