MegaCap Tracker, QQQ Flows and Tech Charts

Before we get to the MegaCap Tracker and our market thoughts, we wanted touch upon a couple of other things. First up we saw this High Net Worth graphic and we just wanted to comment in regards to all the calls for the US Dollar to lose its global reserve status to the China’s Yuan. Take a look at this chart and realize the majority of US HNWs will not be converting to Yuan any time soon, then taking it a bit further realize China’s total debt is only a bit smaller than the United States, however the majority owners of debt are starkly different. The United States debt is mostly owned by the public whereas China its governmental agencies make up the majority. Taking it a step even further and one that is more critical is that the Debt to GDP in China is 2.56 vs the US 1.36. None the less the United States will remain in a very powerful wealth position for quite some time: