This is a ratio of the OEX to the SPY. Which is a ratio of the market cap of S&P 100 vs. the S&P 500.
It is interesting to note that during previous bubbles, such as 2000 tech bubble and 2007 housing bubble, there was a considerable increase in the ratio of the S&P 100 to the S&P 500.
At the moment, many are ringing the alarm bells on the 2021 bubble. However, as we can see, this analysis does not suggest any major issue, if history is any indication. However, this is just one model.
It is interesting to note that during previous bubbles, such as 2000 tech bubble and 2007 housing bubble, there was a considerable increase in the ratio of the S&P 100 to the S&P 500.
At the moment, many are ringing the alarm bells on the 2021 bubble. However, as we can see, this analysis does not suggest any major issue, if history is any indication. However, this is just one model.