How often has the Sox been up 2.8%, Ndx up 1.1% and SPX and DOW down approx 1/2% ? Thought I missed something big by not getting in yesterday but I trade the ES and there wasn't too much to miss from the long side.
The 'play' in the last 4 days has been long tech/short cyclicals like(metals, energy, chemicals). It's also possible somebody big was long the commodities and short NDX and was forced to close those positions. You just never know in this game.
Just checked NDX against SPX 19-JUN-98 11-JAN-99 14-SEP-99 03-JAN-00 18-JAN-00 20-JAN-00 24-FEB-00 28-APR-00 23-FEB-01 18-OCT-01
Goes to show how much you understand things. Those were totally different periods with completely different reasons for the disparities. Mainly, back then, it was high volatility in tech that caused it to outperform the S&P. No comparison with today in terms of the underlying reasons. Statistics, unless carefully analyzed are garbage and can make fools of amateurs.
Understand what? Somebody asked for cases when SPX was down by >.5% and NDX were up by 1%. I posted the dates. Thatâs all. I didnât give any extra analysis or opinion.