Investing Update: Mag 7 Dethroned or Dormant?
What I'm buying, selling and watching
Markets saw a slight pullback this week as blockbuster chip earnings were overshadowed by rising yields and speculation surrounding the next Fed Chair. The narrative now shifts from macro uncertainty to the corporate scoreboard, with all eyes on guidance as earnings season kicks into full swing.
All major indices ended the week in the red, with Bitcoin, gold, and small-caps finishing in the green.
Year to date, everything remains in positive territory. Hard to complain about that.
Market Recap
Weekly Heat Map Of Stocks
A Look At The Dow
All 11 S&P 500 sectors have now climbed back above their 200-day. Stocks or sectors above their 200-day aren’t in a downtrend.
You can see in this chart that the stocks above both their 200-day and 50-day is rising. The red which is stocks below both their 50-day and 200-day is shrinking. What we like to see.
The breadth heat map also shows a lot of green.
The surprising part? This all comes as the tech sector has basically been flat over the last 4 months.
This then leads to the big question on the mind of many investors. Are the Mag 7 and mega-cap tech stocks truly dethroned, or simply dormant?