"Bitcoin & Nasdaq 100 reflect the speculative fever fostered by cheap money after dovish Fed pivots, such as occurred 4Q 2023," Bannister said.
Shortly after, on March 28, the S & P 500 reached a new intraday all-time high .
.SPX YTD mountain S & P 500, YTD If was indeed its peak, that could mean a weaker Nasdaq 100 for six months, Bannister said.
Additionally the S & P 500, which is cap weighted, could struggle against the equal-weight S & P 500 for about six months.
"When the equal-weighted S & P 500 out-performs the S & P 500, then value tends to out-perform growth," he said.
Persons:
Barry Bannister, Bannister, Bitcoin, — CNBC's Michael Bloom
Organizations:
Big Tech, Nasdaq, Big Tech Nasdaq