"We Are Sitting On An Incredibly Important Turning Point"
Last week in hislatest Doubleline webcast, Jeff Gundlach presented a remarkable chart, one showing that the ratio of the Nasdaq to the S&P 500 has been pulled lower and is now right on its dot com bubble peak levels.Picking up on this chart, over the weekend in his latestBear Traps Report, Larry McDonald wrote that "we are sitting on an incredibly important turning point"adding that "the world’s first and second most liquid and arguably most important stock indices are sending important rotatio
- Wall Street ended lower on Tuesday, pulled down by Apple and Tesla, while materials stocks climbed as investors waited for the U.S. Congress to approve another stimulus package.Following strong gains in the prior session, technology shares dipped in the resumption of a rotation by investors out of stocks that outperformed due to the coronavirus pandemic and into others viewed as likely to do well as the economy recovers. The S&P 500 materials and consumer staples sector indexes rose.“Part of