Tech leadership stumbles, what will pick up the pace?

 Mid-week market update: It finally happened. The NASDAQ 100 is being re-weighted in order to address “concentration risk” (full details here). It was a belated decision in response to narrow market leadership, but the problem seems to have moderated on its own. Large-cap technology stocks, which had been on a tear, stalled against the S&P 500. Moreover, sector relative breadth (bottom two panels) are deteriorating.

It may be time to look for new leadership.

The full post can be found here.