CHART OF THE DAY: A bullish formula for the stock market is brewing as the Nasdaq follows 1999 playbook

• A bullish formula for the stock market is on the verge of happening as the economy continues to grow.
• "Positive GDP growth plus improving earnings and a paused Fed is the formula to be bullish stocks," JPMorgan said.
• The bullish set up for stocks comes as the Nasdaq 100 follows a similar playbook from 1999.

Our Chart of the Day is from JPMorgan, which highlights that the Nasdaq 100 Index is closely tracking its trading playbook from 1999.

The chart plots the 2023 year-to-date performance of the tech-heavy index and compares it to its performance in 1999, during the late stages of the dot-com bubble.