$SPY looks good, no problem. But my concern is this.
7 stocks still = 34% of the S&P 500. Higher concentration than the 2000 tech peak (~24%).I got June stats from my agent:$2.3T erased from Mag 7MAGS ETF: $700M outflows, worst month since launch6 of 7 names in double digit drawdownsYTD split:S&P 493: +13.7%Mag 7 basket: -6.6%The other 493 stocks carried 96% of index returns.Where money rotated:LEADING: Healthcare (XLV), Financials (XLF), Industrials (XLI)LAGGING: Technology (XLK), Energy (XLE)S&P 493 earnings growing ~20% in Q2.Mag 7 growth slowing.This is why I keep emphasizing on $RSP gives a better picture than $SPY. Equal weights are a better read IMHO.
Proshares Ultrashort Tech Ps
REW----
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S&P Sectors Green $XLE $XLU $XLP the rest are red with $XLK and $XLY the most red
Source: Sunrise Trader
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current S&P sectors of the 11 9 are green lead by $XLI $XLK and $XLB
Source: Sunrise Trader
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S&P sectors $XLK leading today.
Source: Sunrise Trader
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Finally, some cheer to the markets!
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of the 11 S&P major sectors 4 are green so far today $XLE $XLK $XLY $XLC
Source: Sunrise Trader
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$VIX 27.22 observation. Sectors from 11 S&P 3 are green $XLV $XLK $XLE note XLK is in the list
Source: Sunrise Trader
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The Dark Side of AI: Wall Street Weighs the Recent Stock Market Sell-Off and Its Disruptive Impact
The stock market has just witnessed how disruptive investors' concerns about artificial intelligence can be across multiple industries. Last week, the volatility in software stocks spread to the wealth management, transportation, and logistics sectors, raising questions about how much AI can truly transform the tech industry and high-fee service sectors. Affected by AI concerns, the financial services sector (XLF), consumer discretionary (XLY), and tech stocks were sold off, with both the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) falling more than 1% this week...
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I've lost thousands in a few minutes... The plunges came without warning.
