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Tech Sector Holds The Key To Where Equities Go Next

ByCandy Matheson
Published 04/23/2017, 12:20 AM
Updated 07/09/2023, 06:31 AM

As of Friday, April 21, and during the past couple of range-bound months, the Technology sector has been outperforming the large-cap and small-cap stocks, as shown on the following charts.

It's still sitting above both its 20 and 50 day moving averages, while the Dow 30, S&P 500, S&P 100, NASDAQ 100, NASDAQ Composite and Russell 2000 Indices are below their 50 MA, with bearish 20 and 50 MA crossovers.

I'd watch for any signs of major weakness developing in Tech as a potential precursor to any significant drop in equities, in general. Otherwise, we could see a continued non-directional bias in the markets for some time.

INDU:UTIL:TRAN:SPX:NDX:COMPQ:RUT:OEX:TRANQ Daily
INDU:UTIL:TRAN:SPX:NDX:COMPQ:RUT:OEX:TRANQ Daily, 12-M View
INDU:NDX:RUT:SPX TTM
INDU:NDX:RUT:SPX Daily TTM

Latest comments

well, pretty much ms matheson is on point. it's 2017 and sears is closed and faintly remember radio shack. it's a new world and bezos will be sending his customers to the moon to buy his cheese soon. i'm lost.....and too old.
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