If you look at this ratio you will see that we are currently just at the pre 1999 tech bubble burst level, it should act as support providing at-least a multi week rally followed by choppiness, once 3.10 is broken, it is on like Donkey Kong on the bear side.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.