Not sure how to interpret this chart (lack of belief in China growth?) but the divergence between $QQQ and the metal miners $XME hasn’t been this significant since 2008. Our time-frame is too short to trade off such a chart but interesting nevertheless. Even if you take out $AAPL out of equation the divergence is very significant as a $SPY/$XME chart shows similar divergence. Any thoughts?
Munger: The Psychology of Human Misjudgement
5 hours ago