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May 18, 2024 | Tech Talk for Saturday May 18th 2024

Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at 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

The “bulls” regained control of U.S. equity markets last week. S&P 500 Index, Dow Jones  Industrial Average and NASDAQ Composite Index broke to all-time highs. Leadership was provided by technology sector: Technology SPDRs (Symbol: XLK) moved above $212.00 to an all-time high. A speculative spike in the “Meme stocks” also contributed to bullish sentiment.

The TSX Composite Index also closed at an all-time high on Friday.

Strength in U.S. and Canadian equity indices once again was surpassed by strength in key international equity index prices and their related Exchange Traded Funds last week. Emerging markets iShares (symbol: EEM) advanced 3.06%, Asia 50 iShares (symbol: AIA) advanced 3.94% and China large cap iShares (symbol: FXI) jumped 5.62%. Europe iShares gained another1.54%, up 8.96% from its low in mid-April.

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May 18th, 2024

Posted In: Tech Talk

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