Nothing But Tech
Just a quick visual update on the sectors: This shouldn’t be news to anyone, but the recent stock market rally has been led by tech. Real estate has been strong, too, but it’s only up around 11% since the bottom versus a whopping 32% for tech. Why? Well, I’ll leave that to people who are …
You've reached your free article limit
You've read 0 of 1 free Pro articles.
Just a quick visual update on the sectors:
This shouldn’t be news to anyone, but the recent stock market rally has been led by tech. Real estate has been strong, too, but it’s only up around 11% since the bottom versus a whopping 32% for tech.
Why? Well, I’ll leave that to people who are more in tune with the fast money crowd. I think these valuations are silly. But it’s the semiconductors driving the action. Like Intel (INTC), which is up more than 100% in a month. And AMD (AMD) which has gained 86%.
A word of caution, both of those stocks are now overbought, with RSI readings above 80. Alphabet (GOOGL) is also overbought, having gained 32% over the last month.
The S&P 500 is also overbought, with an RSI over 74. Of course, overbought doesn’t mean sell. It should be interpreted that momentum has been strong enough that a pause, or retracement, is due.
