Nasdaq 100 Surges Back Into Green For 2020, Small Caps Down 30%

FANG stocks are at record highs...

Which has lifted the Nasdaq 100 back into the green for 2020...

The Nasdaq 100 is soaring as its EPS expectations collapse...

S&P is not as exuberant as Nasdaq... as its earnings expectations collapse...

But as Nasdaq soars, Small Caps are collapsing... down 30% YTD...

Sending the Nasdaq/Small Cap ratio back near dotcom record exuberance highs...

...this didn't end well last time.