For example, QQQ has slipped about 1% since the end of August while SPDR S&P 500 (NYSEArca: SPY) is up 4%. [Equal-Weighted Nasdaq ETF Dodges Apple Sell-Off]
The chart below shows the relative performance of QQQ versus SPY. When the chart is falling, the Nasdaq-100 is lagging the S&P 500.
Full disclosure: Tom Lydon’s clients own QQQ, AAPL and SPY.