Only macro can pop the bubble

Tuesday 13 February 2024

The Market Ear measuring the bubble.

Terrific tech

NASDAQ continues making the consolidations, followed by a break up. For now the trend remains very much in place, but there is a negative RSI divergence to consider. Watch the short term trend line inside the channel that connects the last three highs. A failure to push above it could be signalling fading momentum.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.