Nasdaq +47 handles today and 13 handles away from the all time highs.We all know that FANG and NDX have a Positive Correlation either to upside or downside.The other big Component of NDX is Bio tech . I monitor these by watching the Biotech ETF,IBB. This sector appears strong is it is making close to a 2 month high and Rallying for 4th consecutive day,FANG Index also Higher for 4th consecutive day.When these sectors re rallying hard to keep NDX down.
Below find daily graphs of IBB:
The Morgan Stanley FANG index of stocks: