This Major Index Is Breaking Out as Value Stocks Pause: Chart Study

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Value stocks and reopening plays have been the main themes in 2021, but now the bulls seem to be returning to Big Tech and the Nasdaq-100.

The yellow histogram on this chart compares the 21-day return of NDX against the S&P 500. (It uses our Smart Relative Strength custom script.) Notice how Monday’s reading was the highest since August 27. That was immediately before the euphoric Labor Day pop when Apple and Tesla split their shares.

Even though NDX has managed to hit new highs since then, it’s mostly lagged the S&P 500. See this …

For more, please click here to view the related idea and chart analysis on TradingView.

Nasdaq-100, daily chart with selected patterns, courtesy of TradingView.
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