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February 10, 2024 | Tech Talk for Saturday February 10th 2024

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

Headline reads “S&P 500 Index closes at an all-time high”. The “Magnificent Four” (Microsoft, Amazon, Meta and Nvidia), recently narrowed down from the “Magnificent Seven”, continued to move higher. Their extraordinary overweight in the S&P 500 Index and the NASDAQ 100 Index was the main reason why all-time highs were reached on Friday. Other broadly based U.S. equity indices (e.g. Russell 2000 Index, S&P 500 Equal Weight Index, Dow Jones Transportation Average) remain significantly below their all-time highs set in December 2021.

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February 10th, 2024

Posted In: Tech Talk

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