VUG - A Broadening Rally Doesn't Help MGK As Momentum Dips
2024-04-04 09:46:02 ET
Summary
- Large-cap value has outperformed large-cap growth in the past month, leading to the outperformance of the equal-weight version of the S&P 500 while mega-cap growth lags.
- The Vanguard Mega Cap Growth Index Fund ETF Shares has weakening momentum and a P/E north of 30.
- Heavily invested in the Information Technology sector and tech-related names, the MGK ETF lacks exposure to the Energy and Industrials sectors, which are market leaders in 2024.
- I highlight key price levels to monitor as Q2 unfolds.
Brewing under the market’s surface is a slow broadening out. You do not see it in small caps or among foreign stocks. The expanding rally is apparent in domestic large caps away from the Magnificent Seven and Nasdaq 100 companies. ...
A Broadening Rally Doesn't Help MGK As Momentum Dips