RSI divergence
massive divergence on the RSI - monthly chart. It's difficult to look past that. The last divergence I saw like this was on the S&P500 mid feb.
I wouldn't be surprised if we have a ATH, below 10 000 which will be a very difficult psychological resistance to breach.
From macro perspective, it make sense that the nasdaq which is is heavy tech stock index is lagging in time / performing better than the S&P500.
Companies usually prefer to hire more at the end of an economical cycle ( so the past months before COVID started) and in turns this drive tech investments (licences etc) instead of physical investments as it is easier to lay off a worker than to sell machinery or so.
Now that so many people are being laid off (+ the ones to come e.g. in the airline industry as companies said they will massively get rid of people on oct. 1st.) we'll need see how it plays out...
I wouldn't be surprised if we have a ATH, below 10 000 which will be a very difficult psychological resistance to breach.
From macro perspective, it make sense that the nasdaq which is is heavy tech stock index is lagging in time / performing better than the S&P500.
Companies usually prefer to hire more at the end of an economical cycle ( so the past months before COVID started) and in turns this drive tech investments (licences etc) instead of physical investments as it is easier to lay off a worker than to sell machinery or so.
Now that so many people are being laid off (+ the ones to come e.g. in the airline industry as companies said they will massively get rid of people on oct. 1st.) we'll need see how it plays out...
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.