US Tech Leadership Faces a Cyclical Test
$NASDAQ(.IXIC)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2603(NQmain)$ $NASDAQ 100(NDX)$
Probably the most Unthinkable chart you can imagine...
US tech stocks have peaked and are losing ground vs global tech stocks.
Surely the US is not about to lose its Global Tech Leadership status??
But these things do go in cycles, even if you have big conviction on the very real fundamental story, you can't ignore macro-market-financial cycles, and the cycle is looking quite tenuous...
The big issue is Tech Stocks have peaked, are on technically shaky ground ---AND this is coming from a starting point of stretched Valuations.
Tech Sector Credit Risk! 👀
It was all fun and games with AI hype when it was just equity markets, but now that credit markets are involved it doesn't seem so fun anymore…
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