Internet riches
Internet stocks continue to surge as various countries start to ease lockdowns. The Dow Jones Internet Composite Index has surged more than 35% over the past 29 days from March 16 lows:
This has been one of the largest 29 day rallies since the dot-com bubble ended:
Outside of the dot-com bubble, such large rallies usually led to a short term pullback or correction:
This was especially true if these rallies came after the internet stocks hit a 1 year low: