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Dow Jones and Nasdaq flips positions as yields fall and tech rebounds

Ever since the opening for the US stock markets today we have seen a reversal in the divergence between the Nasdaq 100 and the Dow Jones, That is to say the Dow is underperforming this afternoon, where the Nasdaq 100 is not. This is a total reversal of the price action seen yesterday and it is stretching further in the opposite direction as I write this update. Now, if you want an explanation for this, it is quite simple really. The US JOLTS data has brought the threat of recession a little more into the vista, more so than yesterday and that has dented the cyclical stock sector and the Dow Jones and driven flow back into tech. Also yields are now lower following that data and that is helping the Nasdaq 100 to outperform. The index is currently trading at 15,870. It had opened today at 15,763 and closed last night at 15,839. 

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