Nasdaq On The Edge: Credit Screams, Tech Implodes, Call Buying Explodes
The great market contradiction
Nasdaq is approaching a critical crossroads as tech dramatically underperforms small caps and credit stress finally catches up with equities. Yet investors are aggressively buying upside calls, quality continues to outperform, and earnings growth remains concentrated in the very sector being liquidated. Morgan Stanley warns that the correction may not end until the last remaining winners finally catch down. Meanwhile, oil is developing its own intriguing positioning setup.