Tech Is Close To Both All-Time High And All-Time Low

Close to ATH. Close to ATL

Tech continues to grind higher. NDX now 11% off the July lows, firmly above its 50-dma & just 2% away from new ATHs. At the same time the fwd P/E multiple of NDX remains near multi-year lows (~22.5x range) vs. 5yr avg of closer to 25x...