Magnificent 7 vs S&P500
All of magnificent 7 closed red yesterday. It’s quite a rare scene this year, considering they have been the ones leading 2023’s rally.
Out of them, 4 (Amazon, Tesla Nvidia and Microsoft) declined more than 2% yesterday. That’s even more rare.
Interestingly, the equal-weight S&P500 ETF is down year to date. This means that without the magnificent 7, the market doesn’t have strength. And now that the 7 of them are down as well, naturally the true strength of S&P500 will reveal itself
Out of them, 4 (Amazon, Tesla Nvidia and Microsoft) declined more than 2% yesterday. That’s even more rare.
Interestingly, the equal-weight S&P500 ETF is down year to date. This means that without the magnificent 7, the market doesn’t have strength. And now that the 7 of them are down as well, naturally the true strength of S&P500 will reveal itself
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$Proshares S&P 500 Ex-Energy Etf(SPXE.US$ $SPDR S&P 500 ETF(SPY.US$ $Crude Oil Futures(JUN4)(CLmain.US$ $S&P 500 Index(.SPX.US$ $Invesco QQQ Trust(QQQ.US$ $Alphabet-A(GOOGL.US$ $Tesla(TSLA.US$ $Apple(AAPL.US$ $NASDAQ 100 Index(.NDX.US$ $Nasdaq Composite Index(.IXIC.US$ $Amazon(AMZN.US$ $Netflix(NFLX.US$ $Meta Platforms(META.US$ $Microsoft(MSFT.US$ $Netflix(NFLX.US$ $E-mini NASDAQ 100 Futures(JUN4)(NQmain.US$ $Adobe(ADBE.US$ $DocuSign(DOCU.US$ $Salesforce(CRM.US$ $Baidu(BIDU.US$ $Alibaba(BABA.US$ $BABA-SW(09988.HK$ $Rivian Automotive(RIVN.US$ $Workday(WDAY.US$ $SentinelOne(S.US$ $CrowdStrike(CRWD.US$ $Lululemon Athletica(LULU.US$ $Nike(NKE.US$ $Target(TGT.US$ $E-mini S&P 500 Futures(JUN4)(ESmain.US$ $Morgan Stanley(MS.US$ $iShares Russell 2000 ETF(IWM.US$ $U.S. 10-Year Treasury Notes Yield(US10Y.BD$ $Lemonade(LMND.US$ $Digital World Acquisition Corp(DWAC.US$ $iShares 20+ Year Treasury Bond ETF(TLT.US$
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