April 8, 2021, 1:35 pm EDT
Technology and Consumer Discretionary Rising Again
Technology (FB, MSFT, GOOGL, AAPL) and consumer discretionary (ROST, ETSY, CZR) rise again recently. Usually, it means markets turn to offensive mode. But, Nasdaq is still behind S&P 500 and Dow Jones from all-time high level so we have to be cautious at this moment.
The US is in the process of re-opening on economic activities which means restaurants, movie theaters, cruises, travel, hotels fitness centers are ready to operate for business. The expectation on vaccines on very high that COVID-19 is behind when more people got the shot.
Stock markets also cheer on the endless money supply from the US policymakers so new highs arrive almost on daily basis for Dow Jones and S&P 500.
However, low volume and narrow breadth keep us in cautious mode.