Sectors and SPX Components - 5 Day Gains
We’ve seen a clear rotation in the market over the last few weeks. While the previous one was driven by tech and broad participation, the week that just ended showed significant differences across sectors. Energy and Utilities kept the market afloat, materials fell, while other sectors remained neutral.
The tech sector was moved almost entirely by $Apple(AAPL)$ $Tesla Motors(TSLA)$ $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Meta Platforms, Inc.(META)$ $Amazon.com(AMZN)$ $Oracle(ORCL)$ fell significantly. All of these moves were expected, with the exception of META. However, for disciplined investors who used the central weekly level of $773.8 as a reference to invalidate a bullish thesis, a 2% drawdown was successfully avoided (I always provide the essential level that works as insurance when a setup is invalidated).
ORCL is a company that I posted in my social feeds, it is slowly filling its gap with a -8,2% weekly correction. People who chased the euphoria and bought at $345 have suffered a -18% hit, that’s why technical indicators are key.
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