- Technology is back, though in this either/or market, that means everything else is struggling to go up much.
- That still means close to all-time highs in the case of DIA, and actual all-time highs for SPY, but technology had the most room to catch up.
- So with the QQQ's nearing all-time highs too, i.e. less than a percent away, what happens next?
- Well, with buying sentiment in the giddy stage and even bonds doing well despite a hot CPI yesterday, everybody is expecting more new all-time highs.
- But when bears are nowhere to be seen, that's when you should start getting nervous especially with the Federal Reserve meetings on Tuesday and Wednesday of next week.
For further details see:
Equity CEFs: The Rotation Back To Tech And Other Random Notes