23 Feb 2021 ● 02:51 AM
The Nasdaq has lost the most ground recently and that is not because of the falling dollar, or is it? But tech stocks can correlate with each other better. But does the weakness in tech translate into a broad-based decline in the market or is this only a shift in sector allocation from growth to cyclical or value? For that look at a dozen indices and you get a different picture. Like here the opposite is happening in the Dow Transports Index making new highs when tech is going the other way. Nothing toppish about it.