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Speaking of tops/LOL; QQQ + TQQQ, QLD made a top last month. BUT TQQQ has already made bigger top/ bigger uptrend this month/not a predicition , not bank insured. And not going to stop reading Dr Suess some.
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Have we hit the top?
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Speaking of tops/LOL; QQQ + TQQQ, QLD made a top last month. BUT TQQQ has already made bigger top/ bigger uptrend this month/not a predicition , not bank insured. And not going to stop reading Dr Suess some.
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P/E doesen't matter. EUR/USD does. If I know where EUR/USD goes I know were SPY goes ergo I know where ~50% of all US stocks go.
This is true but in the very short-term correlation only. I'd say the correlation is more helpful as an indicator of turning points in market risk tolerance - when risk tolerance changes, all markets respond simultaneously. After that point, they all make their own journey, though many major forex pairs continue to respond to EUR/USD.