The First Time in a Long Time

493 days. Four hundred and ninety-three days.

That’s how long it’s been since the Small Value/Nasdaq-100 ratio has been below its 200-day moving average. Today was the first time since November 2018 that it closed above it.

Does this mean anything? Yes, it means that growth has beaten the pants off value for a very, very long time. Does it mean anything that it closed above the 200-day moving average? I don’t know, check back in 6 months.

Josh and I spoke about the epic unwind in the “stay at home stocks” versus the “open up the economy” stocks and a lot more on this week’s What Are Your Thoughts? Yes, I know my hat is ridiculous.

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