New Tech Bull Market? Surely Not

New Tech Bull Market? Surely Not

The bull is back in big-cap US tech. Or was back. And could be back again soon. Or not. In early trading this week, the Nasdaq 100 was briefly up 20% from the June lows, as tech shares looked to build on three straight weeks of gains. Editorializing around the achievement of imaginary milestones is difficult because they often prove fleeting. The figure (below) is a snapshot in time from Monday morning. I mention this not just for the novelty value (this is still a bear market), but rather
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2 thoughts on “New Tech Bull Market? Surely Not

  1. Some growth stocks are actually cyclicals in disguise as well. Tech hardware for instance. And B to B software in a slowdown could get hurt badly too. The narrative can change that is for sure. Be careful out there.

  2. I’ve been thinking about the US economy and the US equity markets this way, for the past week or so… If we DON’T have a proper (full-fledged) recession, and if we DON’T tumble to dramatic new lows in SPX et al., just imagine the resiliency our economy and markets will have demonstrated after all that has been thrown at them, year-to-date.

    It would truly be remarkable, no?

    But, having said all this, certainly not the most likely outcome.

    I’m still having trouble envisioning how we’re already past all the worst of it, having turned the corner and now on the path of progress (so to speak).

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