Video Ominous Signs Across the Tech Sector

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By :  ,  Financial Analyst

 


In today’s video we also take a look at Tesla (TSLA) and Apple (AAPL), for a closer look ‘inside the index’. Of course, these markets are likely to be highly correlated, especially if sentiment has truly soured. But we can use a combination of such markets to assess the likelihood of a larger sell-off, or bullish reversal. And, as its inflationary fears that has weighed on the tech sector, then its also prone to a bounce should those fears quickly recede (and we should emphasise the word ’if’ on that one).

S&P 500: Market Internals


S&P 500: 4188.43 (-1.04%), 10 May 2021

  • Utilities (1.013%) was the strongest sector and Information Technology (-2.53%) was the weakest
  • 8 out of the 11 sectors outperformed the S&P 500
  • 6 out of the 11 sectors traded lower on the S&P 500
  • 226 (44.75%) stocks advanced and 274 (54.26%) declined
  • 91.29% of stocks closed above their 200-day average
  • 77.82% of stocks closed above their 50-day average
  • 68.91% of stocks closed above their 20-day average

Outperformers:

  • + 6.82%   -  Viatris Inc  (VTRS.OQ) 
  • + 3.88%   -  Live Nation Entertainment Inc  (LYV.N) 
  • + 3.02%   -  Becton Dickinson and Co  (BDX.N) 

Underperformers:

  • -7.33%   -  Align Technology Inc  (ALGN.OQ) 
  • -6.99%   -  Lam Research Corp  (LRCX.OQ) 
  • -6.90%   -  Qorvo Inc  (QRVO.OQ) 

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