Some interesting data points about nasdaq currently :
Almost 2/3rd of the Nasdaq Stocks are in Bear Market (Down more than 20% from Top)
35% of Nasdaq is down over 50%
Nasdaq is hardly 3% away from ATHs
I found some interesting charts of nasdaq on twitter
1. Without the top 5 Stocks, Index is actually down 25% YoY
Source : Rafael Balboa’s Tweet
2. Such Breadth deterioration has occurred only during the peak of tech bubble
Source : Otavio Costa’s tweet
What do you think? History is gonna repeat and the top 5 will also follow the rest of the pack or will the under-performance reverse for the rest of the nasdaq and the index continues to scale new highs?
Its highlighting the over valuation of the tech index nasdaq to me. But it would be hard to draw any conclusion at this point of time where lots of other factors are at interplay.
Nasdaq is crashing and here is some interesting data :
- Worst Start to an year Since 2008
Source : Bloomberg
- Nasdaq is below 200 DMA for the first time since Covid crash (April 2020)
Source : Elizabeth Young
Some Interesting data from Bespoke Investment Group
First time in over 20 years that the Nasdaq was up 1%+ intraday and finished down more than 1% on back to back days.
Here’s some more data on how nasdaq fared during their corrective phases in the past.
This week was kind of rare in the sense that, Nasdaq fell atleast 1% every day of the week
Bloodbath would be the appropriate term for this.
Me thinks a strong short covering is pending next week to kick out the weak shorts or one panic bottom and then recovery.
What do you think folks ?
Here’s some more interesting data from the US markets by Bespoke Investment :
i).6th time the Nasdaq has reversed a 4%+ intraday drop to close higher (since '88).
ii) Jan 2022 would now rank as the 10th Worst month on record for Nasdaq. (It was at 16.9% negative yesterday)
Previous 9 :
Oct 87 - (-27.23%)
Nov 00 - (-22.9%)
Feb 01 - (-22.39%)
Aug 98 - (-19.93%)
Oct 08 - (-17.73%)
March 80 - (17.1%)
Sep 01 - (-16.98%)
Oct 78 - (-16.38%)
April 00 (-15.57%)
Agreed that number of companies listed after 2008 will skew this data a bit. But still, the trend remains extremely alarming.