Alphabet, Amazon, Apple, Advanced Micro

The Nasdaq 100 is under performing the S&P 500 and the Dow Jones Industrials, both of which just hit new highs. This is a much different look on the price charts than that of the first six months of this year. Up until lately, the big cap tech and social media names had done better than almost anything.

One of reasons for the underperformance is apparent when you consider the price chart patterns of the four A’s of the index: Alphabet, Amazon, Apple and Advance Micro Devices. Not one of these major companies are hitting the higher highs of some of those further along in the alphabet.

The Nasdaq 100’s 4 A’s:

Take a look at the daily price chart of Alphabet (formerly known as Google):

This major Nasdaq 100 component, with a market capitalization of $2013 billion, does not have the strength now to make it back up to the early July peak just…