The $Nasdaq Composite Index (.IXIC.US)$ was up more than 16% year to date as of Feb. 2, 2023. That's the best start to the year since 1975. So will this year be good for the Nasdaq? I don't think so. This is just a relief rally after tech stocks' rout last year. They have been rallying because the market is pricing in the Fed hiking rates for the last time by 25 basis points, pausing and then cutting rates in the second half of the year.
The reality is t...