This Hasn’t Happened Since 2002

Well, the Nasdaq closed red in Monday’s holiday-shortened session, trailing the S&P which was green and also the Dow, which hit at a record, much to the delight of Donald Trump…

The divergent fortunes of the Nasdaq and the S&P/Dow marks a reversal of the YTD trend, which has seen tech stocks outperform notably.

The weakness we saw in the Nasdaq 100 during June has some observers worried given that a handful of techy names have been responsible for a disproportionate share of benchmark gains.

In a Friday post documenting tech’s recent trials and tribulations, we showed you two charts that illustrated the growing disconnect between Nasdaq implied vol. and S&P implied vol.

That discrepancy grew more pronounced on Monday and because we firmly believe this is going to be a hot-button issue going forward, we thought it was worth showing you the updated visual. Have a look:

VXNVIX

So yeah, that’s the widest disparity going back to 2002.

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5 thoughts on “This Hasn’t Happened Since 2002

  1. So, not only is assface “taking credit” for the Dow report today, he expects CNN to give him credit….. and/or for them to abandon their normal type of news coverage and simply report on the stock market today? Maybe they will just anoint him the prick of the day.

    – Murphy

  2. You guys don’t give the fat bastard credit where credit is due. He’s clearly capable of sitting in front of his big screen TV and going to tête-à-tête with the CNN or MSNBC screen and figuring out the meaning of simple words, such as “DJIA reaches record high,” or hearing Mika and Joe evaluate him as being off his rocker. Then, without regard to or cognition that he’s supposed to be in control of his wits, he lifts his little fingers and tweeter and without a scinttila of dignity or shame he types whatever Trumpian prose comes to his incredibly touched mind.

    • Marty! again, we are sharing a wave length….. it’s just that your paragraph reads more like poetry than my sentence does! ……fat bastard — just love that!

      – Murphy

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