Strength out of the Nasdaq has been impressive this year.
From a relative standpoint, it's at an important spot.
Does it blast right through or take a breather? pic.twitter.com/enybj2ow2D
— David Rath (@DJwrath) March 17, 2023
Today’s Chart of the Day was shared by David Rath (@DJwrath). The Nasdaq led by a wide margin this week, gaining 5.85%, marking its best week since November. It’s outperformed the S&P 500 for 12 consecutive days now, which is its third-longest streak of outperformance over the past 25 years. David points out that the Nasdaq is currently testing a key resistance level relative to the S&P 500 (second chart down). We’ve seen several notable inflections around this level over the past couple of years. Will this level break the Nasdaq’s impressive streak of outperformance next week?