Nasdaq 100 Surges Back Into Green For 2020, Small Caps Down 30%

FANG stocks are at record highs…

Which has lifted the Nasdaq 100 back into the green for 2020…

The Nasdaq 100 is soaring as its EPS expectations collapse…

S&P is not as exuberant as Nasdaq… as its earnings expectations collapse…

But as Nasdaq soars, Small Caps are collapsing… down 30% YTD…

Sending the Nasdaq/Small Cap ratio back near dotcom record exuberance highs…

…this didn’t end well last time.