Stocks have climbed a mountain of worries this year, ranging from lingering inflation to bank collapses, to the possibility the U.S. Congress might just...
Stocks have climbed a mountain of worries this year, ranging from lingering inflation to bank collapses to the possibility that the U.S. Congress might just decide not to pay its bills. But has the run, also fueled by excitement over artificial intelligence, gone too far?
In an email to MarketWatch, DeMark, who has advised investing legends including Paul Tudor Jones, Leon Cooperman and Steven A. Cohen, says the Nasdaq 100 QQQ has been in an extended uptrend, but now it’s likely approaching exhaustion. See DeMark’s analysis on his website Symbolik. He also identifies another change. He says the five-plus months of Nasdaq 100 outperformance over the S&P 500 is about to reverse. “Once two additional higher closes are recorded, sell countdown 13 will be recorded,” DeMark says.
The markets U.S. stock futures ES00 NQ00 were pointing higher after Tuesday’s weaker finish. Gold futures GC00 were below $2,000 an ounce. The yield on the 10-year Treasury TMUBMUSD10Y was 3.52%.
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