From the Desk of Alfonso Depablos @Alfcharts
Coming into July, the Nasdaq 100 had already achieved record-setting returns through the first six months of the year. Over the past quarter, however, the trend has cooled off as stocks have struggled with overhead supply.
The same could be said for the relative trend as growth stocks have paused their advance versus the overall market.
The chart below shows the Nasdaq 100 versus Russell 3000 ratio coiling beneath a critical level of interest.