You wouldn’t know it from the quotes on your screen, but this has been a bad week for tech stocks. One succinct way to see what a sea change has taken place in the market is to look at the ratio chart of the Nasdaq 100 divided by the S&P 500. The long-term uptrend has clearly broken.

(Click on image to enlarge)

As long as we’re looking at ratio charts, here’s the MICE update, which shows what a pivotal year 2022 has been, in which interest rates have raged higher and – – the past two weeks notwithstanding – – stocks have substantially weakened.

(Click on image to enlarge)

More By This Author:

GDP Good Or Bad?
Eight ETFs
Flatline Crypto Repeat