July 2, 2021, 1:50 pm EDT
Aggressive Mega Technology
Mega technologies are going up sharply again that lead Nasdaq to a new high again. This giant tech, including MSFT, ORCL, MSFT, GOOGL, AAPL, AMZN show aggressive actions for the beginning of the second half of 2021. But the breadth readings are not as bullish as price actions. The indexes look strong like DJIA +150, or Nasdaq +0.65% but only small groups of the mega stocks contribute the gains.
Job markets added another 850K positions in June. Most jobs came from leisure/hospitality (restaurants, hotels, bars, cruises, theme parks) 343K and government 188K. It convinced market participants that the US economic outlook is pretty.
There is a fine line or balance point between an overheated economy and out-of-control inflation. We will follow the guidance from the stock market itself to make investment decisions. Currently, all indexes are at or near all-time highs. So, we will stay bullish bias. When 50 day-moving-average lines are broken, we will switch gears and check conditions.
