AFMC - The Tape Is Getting A Little Stretched
2024-02-12 23:00:00 ET
Summary
- While the NASDAQ 100 Index is being pushed up by the AI momentum trade, the small-cap Russell 2000 finally woke up last week but is still down for the year.
- The broad market is lagging the S&P 500 index because of the high concentration of trillion-dollar stocks (the Magnificent Seven) that are pushing the S&P 500 index higher.
- It doesn’t help that on Friday, when the S&P 500 index closed convincingly for the first time above the 5,000 mark, the VIX Index was up on an up day.
This title begs some explanation of why the stock market is still sometimes referred to as “the tape.”...
The Tape Is Getting A Little Stretched