Weekly S&P500 ChartStorm - 16 June 2024
This week: market breadth, tech sector calm, receding recession, implied correlations, foreign holdings, value vs growth, long-term growth, sector weights in perspective, allocations and valuations...
Welcome to the latest Weekly S&P500 #ChartStorm!
Learnings and conclusions from this week’s charts:
The index is being driven higher by mega-cap tech stocks.
Breadth is weakening (bearish divergence).
Tech sector credit risk pricing is calming as recession risks recede.
Implied correlations are at warning levels.
Foreign allocations to US stocks reached a rec…
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