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“Can’t Get Broke Taking Profits” – The Tech Stock Rally Is Getting Extended

Tuesday, February 14, 2017 16:08
% of readers think this story is Fact. Add your two cents. / Via Dana Lyons’ Tumblr / Feb 14, 2017 1:55 PM

The Nasdaq 100 rally is arguably extended now, based on the utilization of this charting analysis.

We have mentioned, on occasion, our view that the concept of rotation in the equity market is a bit overplayed.  Sure, there are always some things going up on others going down, but that’s the nature of the markets. It doesn’t mean it is part of some coordinated rotation whereby various segments of the market take turns carrying the leadership mantle. In fact, it is estimated that some 70%-80% of the movement of a stock can be explained by the direction of the overall market.  With that being said, in the last eight months or so, the stock market has probably exhibited more “rotational” characteristics than any other period in recent memory.

Others have pointed to the multi-year lows in stock correlations.  It is part of the same concept.  The recent rotation among stocks segments has been interesting to say the least, not to mention an attractive environment for active managers. Some groups of stocks rally while others consolidate; some break out while others pull back; some are extended while others are poised to make a move. Presently, you might place technology stocks, or specifically the NASDAQ 100, in the “extended” category.


The post “Can’t Get Broke Taking Profits” – The Tech Stock Rally Is Getting Extended appeared first on Silver For The People.


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