Not even 1999 yet
GS traders say tech rally to continue
How quickly the narrative can change. A week ago we felt that this was bubble style early 2000 and now apparently it is not even 1999. Goldman's traders says that the tech rally will continue in the near term. The chart above goes much further than that showing, that this rally is still far more subdued than the great melt-up of 1999 and 2000. Which side of 99 are you on?
Why GS sees a continued tech grind higher
1. There is room to re-risk. Ahead of the NVDA print, the GS trading desk noted HF de-risking activity in tech