$500M Out Of FAANG Stocks & The Nasdaq Still Rallying

<p>"The VIX falling 4 points looks good when you go to the terms structure. However, the VIX is not a predictive indicator as it is reactionary. Yields have backed off and technicals look good with the S&amp;P 500 Index or SPX had an inverse head and shoulders pattern in October 2022. You have to respect the price action and the path of least resistance," says Nathan Peterson. "It is unbelievable that $500M came out of the FAANG stocks and the Nasdaq is still rallying. This means that there is a rotation," adds Joe Mazzola.</p>