Day Hagan Tech Talk: Intimidation
In Day Hagen's Tech Talk focused on intimidation: Higher interest rates are weighing on equities, and focus will be on the Fed’s conference.
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In Day Hagen's Tech Talk focused on intimidation: Higher interest rates are weighing on equities, and focus will be on the Fed’s conference.
The S&P 500 gained 3% in July up for the fifth month in a row. Breadth remained solid all 11 S&P 500 sectors posted positive returns in July.
According to Day Hagen, the Wall Street narrative has been about both bullish and bearish non-price-related macroeconomic themes.
Within the context of the S&P 500’s continuing uptrend and because of the bulls run on Wall Street last week, areas of potential selling pressure loom overhead.
Within the context of the SPX’s uptrend, large cap growth/technology/SPX’s short-term momentum has indeed started to churn.