$SPXEW Leads, $NDX Consolidates: Bullish Rotation Intact
1.SPXEW vs $NASDAQ 100(NDX)$
The equal-weighted S&P500 $S&P 500(.SPX)$ is pushing higher, and the Nasdaq 100 is stuck in consolidation mode (as tech is in a bit of a stalemate; awaiting cue on next steps).
Basically, the bullish rotation theme remains in play [i.e. the rest of the market is finally having its day in the sun as tech takes a back seat].
2.Global Tech vs US Tech
Similarly, the chart below shows how rest-of-world tech continues to push higher (new highs last week), while US tech pretty much looks to be in a downtrend at this point.
The divergence here and above still has a bullish/constructive hue to it in that you have the rest of the market + global looking good, doing well in absolute terms (for good reason) —and taking up the slack from softer tech performance.
Again, it looks like bullish rotation, yet I think it’s important to remain vigilant on tech as a larger breakdown there would test my optimistic bullish rotation interpretation…
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
-
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
-
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
