The stock market saw mixed performances with the S&P 500 up over 1%, while the Dow struggled. Tech sector led the gains, surpassing other sectors and hitting all-time highs. However, not all tech industries performed well, with disparities in performance noted among different sectors.
Currently, 460 out of 503 S&P 500 $SPY stocks are trading in the "RED" today.
S&P 500 down 40 bps, 45 stocks up 457 down.
17% of members in S&P 500 Financials sector made a new 3-month low yesterday ... most since last October https://t.co/LFRAV80NtL
79% of members in S&P 500 Financials sector trading above their 200-day moving average ... lowest since last November https://t.co/pkc2ElTy3q
S&P 500 climbed to a new all-time high yesterday but % of members making a new 3-month low continues to pick up https://t.co/KpQsnOIJOD
"The Tech sector is really climbing ... current rolling 30-day % change is slightly >[22%]. Looking back at history, we've seen that in the 2020 and 2009 bear market recoveries, the early 2000s (many bear market rallies back then), and late '90s." @KevRGordon https://t.co/goizNGVdQI
This chart shows the lack of market breadth very well. Today, the Nasdaq 100 gained 0.6% despite >70% of names in the index traded lower on the session. NDX (Nsadq 100) > NDXE (Nasdaq 100 Equal Weight) by ~90bps, which is a TOP 5 day of outperformance over the last 1 year,… https://t.co/Yvy8WZz7wS
The tech sector made up 34% of the S&P 500 at the peak of the Tech Bubble in 2000. Today, it represents 33%. https://t.co/GJCGiMZ4RD
The Nasdaq 100 was up 0.57% today but just 29 stocks in the index were up versus 71 that were down.
Tech is leading again today. It's the only sector that's outperformed the S&P 500 in the past month. And, after various discussions about broadening throughout the year, we're back to Tech and Comm. Services as the only outperformers this year. https://t.co/v1vMA2Uz8Z
NASDAQ-100 futures up another 0.7%
As a sector, Tech is doing well, but not everyone is participating ... Semiconductor industry (white) is up by 72% this year while IT Services industry (blue) is down by 11.2% https://t.co/whvTtrgEZB
19% of NASDAQ 100 members made a new 3-month high yesterday ... most since early March https://t.co/Wdy7yuAlB2
31% of members in S&P 500 Tech sector made a new 3-month high yesterday ... most since early March https://t.co/2G505GmIGB
The Tech sector is really climbing ... current rolling 30-day % change is slightly >19%. Looking back at history, we've seen that in the 2020 and 2009 bear market recoveries, the early 2000s (many bear market rallies back then), and late '90s https://t.co/YXvCTYa79o
Technology stocks just hit another all-time high relative to the S&P 500. The Information Technology sector to S&P 500 ratio is now ~20% higher than in the 2000 Dot-com bubble peak. The ratio has DOUBLED in just 6 years. Year-to-date, the tech sector has rallied ~27%… https://t.co/XLE5znUwYC
Tech led all other sectors today and has leapfrogged to top spot YTD (now also up by nearly 9% this month) … small caps had a relatively strong bounce today but continue to lag large-cap peers both YTD and MTD (led to downside by Russell 2000 Value) https://t.co/lxllusIhFW
U.S. STOCKS EXTEND GAINS, NASDAQ UP 2.00%
The S&P 500 may be up over 1% today, but the Dow is much weaker with 18 of its 30 stocks down on the day. https://t.co/vtYXjbPUdD