2024-01-28 21:48:16 ET
Summary
- Tech stocks have outpaced all other S&P 500 sectors in the past three months as AI fervor continues to permeate markets.
- The Technology Select Sector SPDR Fund ETF could feature some volatility due to upcoming mega-cap tech earnings this week.
- XLK has a concentrated portfolio, with over 40% of the fund invested in Microsoft and Apple, and seasonal trends turn a bit softer over the coming weeks.
- I highlight key price levels to monitor on this high-momentum sector fund.
Tech stocks continue to lift the market. There’s no revelation with that statement. But the advance over the past three months is remarkable in that the growth-focused sector has now outpaced all other S&P 500 sectors from the lows notched last October. Tech’s weighting in the SPX has soared to new heights (since 2000), too. ...
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For further details see:
XLK: Prepare For Volatility As Mega-Cap Tech Earnings Take Center Stage