Note the nearly perfect correlation between SMH (Semiconductor ETF) & QQQ (Nasdaq 100 ETF) up until the sudden & very distinct disconnect between the two that occurred immediate prior to the August crash in QQQ which was the largest correction in years. Immediately following the August 24th lows, the very tight correlation between the Nasdaq & the semis was once again restored until this recent, nearly identical disconnect between the two.
SMH vs. QQQ Nov 5th